+RUQXQJ5RLWLQJHU 'LH VWHUUHLFKLVFKHQ 0XQGDUWHQ

Größe: px
Ab Seite anzeigen:

Download "+RUQXQJ5RLWLQJHU 'LH VWHUUHLFKLVFKHQ 0XQGDUWHQ"

Transkript

1 +RUQXQJ5RLWLQJHU 'LH VWHUUHLFKLVFKHQ 0XQGDUWHQ

2

3 Maria Hornung Franz Roitinger Die österreichischen Mundarten Eine Einführung Neu bearbeitet von Gerhard Zeillinger

4 ²'LH VWHUUHLFKLVFKHQ0XQGDUWHQ HUVFKLHQHQLQLKUHUXUVSU QJOLFKHQ)DVVXQJXQWHUGHP7LWHO ²8QVHUH0XQGDUWHQ LPgVWHUUHLFKLVFKHQ%XQGHVYHUODJ DOV+HIWGHU5HLKH²6SUHFKHU]LHKXQJ KJYRQ)HOL[7URMDQ $XIODJH {9HUODJVJPE+ &R.*:LHQ $OOH5HFKWHYRUEHKDOWHQ -HGH$UWGHU9HUYLHOIlOWLJXQJDXFKDXV]XJVZHLVHJHVHW]OLFKYHUERWHQ 8PVFKODJJHVWDOWXQJ*DGL)LVFKPDQ 6DW]GDWDFRQ:LHQ 'UXFN:LHQHU9HUODJ+LPEHUJ:LHQ,6%1

5 ,QKDOW,QKDOW $EN U]XQJHQ 9RUZRUW]XU1HXDXIODJH (LQOHLWXQJ :LHQ 1LHGHU VWHUUHLFK %XUJHQODQG 2EHU VWHUUHLFK 6DO]EXUJ 6WHLHUPDUN.lUQWHQ 7LURO ([NXUV2VWWLURO ([NXUV6 GWLURO 9RUDUOEHUJ gvwhuuhlfklvfkh0xqgduwhqdx HUKDOEGHV6WDDWVJHELHWHV6SUDFKLQVHOQ /LWHUDWXUYHU]HLFKQLV.DUWHQ 0XQGDUWOLFKH*OLHGHUXQJgVWHUUHLFKV 'LHXL0XQGDUWHQLP VWOLFKHQgVWHUUHLFK 'LHDOWHUW POLFKVWHQ0XQGDUWJHELHWHLQ1gXQG2gXP 'HU /DXWLQ2EHU VWHUUHLFK 'HU /DXWLQ2EHU VWHUUHLFK.lUQWHQ 7LURO 2VWWLURO9HUEUHLWXQJVJHELHWHGHU0XQGDUWIRUPHQI U²0XWWHU 'LH%XQGHVOlQGHU:LHQ1LHGHU VWHUUHLFK%XUJHQODQG2EHU VWHUUHLFKXQG6DO]EXUJZXUGHQ YRQ )UDQ] 5RLWLQJHU GLH %XQGHVOlQGHU 6WHLHUPDUN.lUQWHQ 7LURO PLW 2VWWLURO XQG 9RUDUO EHUJVRZLHGLH6SUDFKLQVHOQDX HUKDOEGHV 6WDDWVJHELHWHV YRQ 0DULD +RUQXQJ 6 GWLURO YRQ 0DULD+RUQXQJXQG*HUKDUG=HLOOLQJHUEHDUEHLWHW

6 $EN U]XQJHQ $EN U]XQJHQ $EW $EWHLOXQJ DKG DOWKRFKGHXWVFK DOOJ DOOJHPHLQ DOWHUW PO DOWHUW POLFK $QP $QPHUNXQJ $XIO $XIODJH %G%GH %DQG%lQGH %HDUE %HDUEHLWHU EHDUE EHDUEHLWHW %JOG %XUJHQODQG E]Z EH]LHKXQJVZHLVH 'HP 'HPLQXWLYXP GK GDVKHL W GW GHXWVFK HLJWO HLJHQWOLFK (UJEG (UJlQ]XQJVEDQG HW\P HW\PRORJLVFK III IROJHQGH JHUP JHUPDQLVFK JULHFK JULHFKLVFK + +HIW +DELO +DELOLWDWLRQVVFKULIW +J +HUDXVJHEHU KJ KHUDXVJHJHEHQ KLVW KLVWRULVFK LGJ LQGRJHUPDQLVFK LWDO LWDOLHQLVFK -J -DKUJDQJ -K -DKUKXQGHUW.O.ODVVH ODW ODWHLQLVFK PEDLU PLWWHOEDLULVFK 0GD 0XQGDUW PGDO PXQGDUWOLFK PKG PLWWHOKRFKGHXWVFK 1g 1LHGHU VWHUUHLFK R- RKQH-DKU 21 2UWVQDPH 2g 2EHU VWHUUHLFK 3HUV 3HUVRQJUDPPDWLNDOLVFK 3KLO'LVV 'LVVHUWDWLRQDQGHU 3KLORVRSKLVFKHQ)DNXOWlW 3O 3OXUDO 31 3HUVRQHQQDPH 3UlV 3UlVHQV URP URPDQLVFK 6 6HLWH 6EJ 6DO]EXUJ 6LQJ 6LQJXODU VODZ VODZLVFK VORZ VORZHQLVFK VSUDFKO VSUDFKOLFK V GEDLU V GEDLULVFK XD XQGDQGHUH EHUWU EHUWUDJHQ XQRUJDQ XQRUJDQLVFK XUVSU QJO XUVSU QJOLFK XVZ XQGVRZHLWHU XYD XQGYLHOHDQGHUH 9EJ 9RUDUOEHUJ YEJ YRUDUOEHUJLVFK YHUP YHUPHKUWH YHUZ YHUZDQGW YJO YHUJOHLFKH ZDKUVFKHLQO ZDKUVFKHLQOLFK Z UWO Z UWOLFK ]% ]XP%HLVSLHO ]LPEU ]LPEULVFK! ZLUG]X HQWVWDQGHQDXV HUVFKORVVHQH ELVKHUQLFKWEHOHJWH)RUP

7 9RUZRUW]XU1HXDXIODJH 9RUZRUW]XU1HXDXIODJH 1DFKGHP QXQ I QI]LJ -DKUH VHLW GHP (UVFKHLQHQ GHV % FKOHLQV ²8QVHUH 0XQGDUWHQ YHUJDQJHQVLQGHUVFKHLQWHLQHQHXHYHUEHVVHUWHXQGHUZHLWHUWH'DUVWHOOXQJGHU0DWHULH ]ZHFNPl LJ) UPHLQHQYHUVWRUEHQHQ.ROOHJHQ)UDQ]5RLWLQJHUXQGI UPLFKZDU GLH HUVFKLHQHQH 3XEOLNDWLRQ ²8QVHUH 0XQGDUWHQ HLQ HUVWHV XPIDVVHQGHV :HUN GHVVHQ$XIJDEHGDULQEHVWDQGYRUDOOHPGHQ/HKUHUQHLQH]ZHFNGLHQOLFKH(LQI KUXQJ LQGLHVRXQWHUVFKLHGOLFKHQ VWHUUHLFKLVFKHQ0XQGDUWHQ]XELHWHQ$XFKYRQ6WXGHQWHQ GHU*HUPDQLVWLNZXUGHHVELV]XPKHXWLJHQ7DJLPPHUZLHGHUDOVQ W]OLFKH*UXQGODJH KHUDQJH]RJHQ 1DFKVRODQJHU=ZLVFKHQ]HLWLQGHUYLHODXIGHP*HELHWGHU'LDOHNWRORJLHLQgVWHUUHLFK JHIRUVFKWXQGSXEOL]LHUWZXUGHLVWHVPLUHLQ%HG UIQLVHLQHLQYLHOHQ%HUHLFKHQDNWXDOL VLHUWH)DVVXQJ YRU]XOHJHQ'HU KLHU EHVFKULHEHQH 6WDQG GHU 0XQGDUWHQ EOHLEW LP:H VHQWOLFKHQDXIGHQ)XQGXVGHU0DWHULDOLHQGHV,QVWLWXWVI U VWHUUHLFKLVFKH'LDOHNWXQG 1DPHQOH[LNDXPEH]RJHQ$OV%HLVSLHOI UGHQVHLWKHUHLQJHWUHWHQHQ/DXWZDQGHO ELHWHWVLFKGLH(QWZLFNOXQJGHVPKG DQKDQGGHV:RUWHV²JUR QDFK*$,6%$8(5 DQGLHGHQ5 FN]XJGHUFKDUDNWHULVWLVFKHQ6RQGHUHQWZLFNOXQJHQ]XgE]ZgDXI]HLJW 6RZHUGHQGLHlOWHUHQ)RUPHQJUgVXQGJUgV]XVHKHQGVYRQJURVYHUGUlQJW )UDQ]5RLWLQJHUV².HUQVW FN VHLQHV%HLWUDJHVLVW2EHU VWHUUHLFK'LHKLHUGDUJHVWHOOWH DOWH 0XQGDUWZHOW ZLUG RKQH DOO]X JUR H (LQVFKUlQNXQJHQ QRFKPDOV GDUJHERWHQ $OWH XQGMXQJH)RUPHQVWHKHQKHXWHKLHULQH[WUHPHQ*HJHQVlW]HQHLQDQGHUJHJHQ EHUGLH PDQLP5DKPHQGLHVHU3XEOLNDWLRQQLFKWLP(LQ]HOQHQDXIOLVWHQNDQQ2EHU VWHUUHLFKLVW PLWVHLQHUGXUFKGHQ6WHO]KDPHUEXQGEHVRQGHUVEHWRQWHQ0XQGDUWSIOHJHHLQ*HELHWLQ GHPEHZXVVWH(UKDOWXQJDOWHQ0XQGDUWJXWHVVHKUGHXWOLFKHQ(UQHXHUXQJVEHVWUHEXQJHQ JHJHQ EHUVWHKW'HU²6SUDFKDWODVYRQ2EHU VWHUUHLFK KDWGLHVFKZLHULJH$XIJD EH EHUQRPPHQHLQNODUHV%LOGGHUJHJHQZlUWLJHQ6SUDFKJHVWDOWXQJ]XYHUPLWWHOQ :HQQ KHXWH YLHOH VSUDFKOLFKH 1HXHUXQJHQ LQ XQVHUHQ 6SUDFKJHEUDXFK HLQJHGUXQJHQ VLQGXQGGDPLWHLQHDOOJHPHLQH9HUIODFKXQJXQVHUHU0XQGDUWHQHLQJHWUHWHQLVWVRZLOO LFKPLFKGRFKDXIGDVQRFKJXWHUNHQQEDUH*HU VWXQVHUHUYRONVW POLFKHQ6SUDFKHEH ]LHKHQ ZLH HV GHQ )RUVFKXQJVHUJHEQLVVHQ GHV JHQDQQWHQ,QVWLWXWHV GHP LFK VHLW DQJHK UWH XQG GHP ²: UWHUEXFK GHU EDLULVFKHQ 0XQGDUWHQ LQ gvwhuuhlfk II HLJHQLVW 0HLQ'DQNI UZHUWYROOH+LQZHLVHJLOWPHLQHQ.ROOHJHQDP,QVWLWXWI U VWHUUHLFKLVFKH 'LDOHNW XQG 1DPHQOH[LND GHU gvwhuuhlfklvfkhq $NDGHPLH GHU :LVVHQVFKDIWHQ VRZLH +HUUQ'U*HUKDUG=HLOOLQJHUGHUPLWGHU5HLQVFKULIWXQG/HNWRULHUXQJGHV0DQXVNULS WHVEHIDVVWZDUXQGI UHLQHZHLWJHKHQGH1HXEHDUEHLWXQJJHVRUJWKDW'HPgVWHUUHLFKL VFKHQ%XQGHVYHUODJGHVVHQ$XWRULQLFKVHLWGHP(UVFKHLQHQYRQ²8QVHUH0XQGDUWHQ LQPHKUIDFKHU+LQVLFKWVHLQNRQQWHELQLFKI UGLHVWHWVYHUVWlQGQLVYROOHXQGHU IROJUHLFKH=XVDPPHQDUEHLWDXIULFKWLJYHUEXQGHQ :LHQLP)U KMDKU 0DULD+RUQXQJ

8

9 (LQOHLWXQJ (LQOHLWXQJ =XU'LDOHNWNXQGHLQŒVWHUUHLFK :HQQ GLHVH (LQI KUXQJ LQ GLH VWHUUHLFKLVFKHQ 0XQGDUWHQ HUVWPDOV LQ HLQHU 5HLKHHUVFKLHQGLHGHQ7LWHO²6SUHFKHU]LHKXQJ WUXJVRKDWWHGLHVVHLQHQJDQ]EH VRQGHUHQ6LQQ:XUGH0XQGDUWLQIU KHUHQ=HLWHQDOVHLQH$UW²YHUGHUEWH6FKULIW VSUDFKH EHDUJZ KQWVRVROOWHQXQPHKUDXIGLHZLFKWLJH%HGHXWXQJYHUZLHVHQZHU GHQGLHLKULQQHUKDOEGHVVSUDFKOLFKHQ*HI JHVHLQHV/DQGHVXQGVHLQHU%HZRKQHU ]XNRPPW -D HV VROOWH JDU GLH 1RWZHQGLJNHLW KHUDXVJHVWHOOW ZHUGHQ LKUH %HWUDFK WXQJLQHLQH/HKUHYRPULFKWLJHQ6SUHFKHQHLQ]XEH]LHKHQ/HW]WOLFKZLUGGLH0XQG DUW LQ HLQHU =HLW GHU 6SUDFKYHUlQGHUXQJ GXUFK )UHPGHLQIO VVH ]X HLQHP 5 FNKDOW GHUXUHLJHQVWHQVSUDFKOLFKHQ:HVHQVDUW 8PGDV-DKUKHUXPNRQQWHVLFKQRFKQLHPDQGYRUVWHOOHQGDVVGLH%HVFKlIWL JXQJPLWGHQ0XQGDUWHQGLHGDPDOVQRFKLQYLHODOWHUW POLFKHUHU)RUPXQGLQYLHO EUHLWHUHQ.UHLVHQJHVSURFKHQZXUGHQHLQPDO]XHLQHUZLVVHQVFKDIWOLFKHQ'LV]LSOLQ ZHUGHQ VROOWH 'HQQRFK ZXUGH JHUDGH GDPDOV GXUFK GHQ *HLVW GHU 5RPDQWLN GHU GDV9RONVW POLFKHLQDOOHQVHLQHQ(UVFKHLQXQJVIRUPHQQHXHQWGHFNWHGHUHUVWH$Q VWR JHJHEHQ 'LH 6FKDU GHU MXQJHQ *HUPDQLVWHQ XP -DNRE *5,00 HUNDQQWH GLH GLUHNWH $EVWDPPXQJ GHU 0XQGDUWHQ DXV GHP PLWWHOKRFKGHXWVFKHQ 6SUDFKJXW -RKDQQ $QGUHDV 6&+0(//(5 OHJWH ]ZLVFKHQ XQG PLW GHP YLHUWHLOLJHQ ²%D\HULVFKHQ : UWHUEXFK HLQ EDKQEUHFKHQGHV :HUN YRU LQ ZHOFKHP HU DXFK PXQGDUWOLFKHV 6DPPHOJXW DXV gvwhuuhlfk YHUDUEHLWHWH 6SlWHU HUVFKLHQHQ DQGHUH OH[LNDOLVFKH 6DPPOXQJHQ GHV PXQGDUWOLFKHQ 6SUDFKVFKDW]HV VWHUUHLFKLVFKHU (LQ ]HOODQGVFKDIWHQ 'LH EHGHXWHQGVWHQ ZDUHQ GDV ².lUQWLVFKH : UWHUEXFK YRQ 0DWWKLDV/(;(5XQGGDV²7LUROLVFKH,GLRWLNRQ YRQ-RKDQQ%6&+g3) 'HQ EOR HQ=XVDPPHQVWHOOXQJHQGHV:RUWJXWHVIROJWHQJUDPPDWLNDOLVFKH8QWHUVXFKXQ JHQ]XQlFKVWHLQ]HOQHU0XQGDUWHQELVJU HUH5lXPH EHUEOLFNWZHUGHQNRQQWHQ XQG VFKOLH OLFK GLH QHXH :LVVHQVFKDIW GLH /HKUH YRQ GHQ 0XQGDUWHQ DXVJHELOGHW ZDU'HU7LUROHU'LDOHNWIRUVFKHU-RVHI6&+$7= KLHOWDOV(UVWHULQgVWHU UHLFK PXQGDUWNXQGOLFKH 9RUOHVXQJHQ DQ GHU 8QLYHUVLWlW,QQVEUXFN,KP IROJWHQ LQ :LHQYRQ GHP :LHQHU *HUPDQLVWHQ -RVHSK 6((0h//(5 DXVJHELOGHW $QWRQ3)$/= XQGVSlWHUGHU'LDOHNWJHRJUDSK(EHUKDUG.5$1=0$<(5 GHU GXUFK -DKU]HKQWH GLH 0XQGDUWNXQGH DQ GHU :LHQHU 8QLYHUVLWlW OHKUWHZlKUHQGLQ*UD]/HR-87= GHUHUVWHJUR H9HUWUHWHUGLHVHV)D FKHV ZXUGH $OV HLQHU GHU H[DNWHVWHQ )RUVFKHU XQG EHGHXWHQGVWHQ $QUHJHU VHLQHU *HQHUDWLRQZLUNWH3ULPXV/(66,$. GHU9DWHUGHU.lUQWQHU0XQGDUW IRUVFKXQJ$QGHU:LHQHU8QLYHUVLWlWZDUHVGDV9HUGLHQVW:DOWHU67(,1+$86(56 GLH0XQGDUWNXQGHPLWGHU2UWVQDPHQNXQGHLQQLJVW]XYHUNQ SIHQXQG EHLGH'LV]LSOLQHQGDGXUFK]XEHIUXFKWHQ

10 (LQOHLWXQJ 6FKOLH OLFK VHL QRFK DXI GLH =HQWUDOVWHOOH GHU PRGHUQHQ VWHUUHLFKLVFKHQ 0XQGDUW IRUVFKXQJKLQJHZLHVHQGDV,QVWLWXWI U VWHUUHLFKLVFKH'LDOHNWXQG1DPHQOH[LNDGHU gvwhuuhlfklvfkhq$ndghplhghu:lvvhqvfkdiwhq6hlwhuvfkhlqwgruwgdv²: U WHUEXFK GHU EDLULVFKHQ 0XQGDUWHQ LQ gvwhuuhlfk DOV JUR DQJHOHJWHV : UWHUEXFK GHU VWHUUHLFKLVFKHQ 0XQGDUWHQ DXVJHQRPPHQ GDV $OHPDQQLVFKH LQ 9RUDUOEHUJ 6HLWGHU6FKDIIXQJGLHVHV8QWHUQHKPHQVGXUFK-RVHSK6((0h//(5ZXUGHXQWHUGHU /HLWXQJGHU3URIHVVRUHQ$QWRQ3)$/=XQG9LNWRU'2//0$<5 (EHU KDUG.5$1=0$<(5,QJR5(,))(167(,1XQG3HWHU:,(6,1*(5UHGLJLHUWXQWHUDQ GHUHPGXUFK0DULD+25181*XQG:HUQHU%$8(5HLQH) OOHYRQ0DWHULDOJHVDP PHOW GDV GHU :LVVHQVFKDIW DQVRQVWHQ I U LPPHU YHUORUHQ JHJDQJHQ ZlUH 'HQQ VFKRQZlKUHQGGHV%HVWDQGHVGLHVHU,QVWLWXWLRQVHLWKDEHQVLFKJUR H9HUlQGH UXQJHQ LP VSUDFKOLFKHQ *HI JH GHU HLQ]HOQHQ %XQGHVOlQGHU YROO]RJHQ ZRI U GLH VWDDWOLFKH $XIO VXQJ GHU VWHUUHLFKLVFKXQJDULVFKHQ 0RQDUFKLH XQG GLH JUR HQ 9RONVYHUVFKLHEXQJHQ LQIROJH GHV =ZHLWHQ :HOWNULHJV YHUDQWZRUWOLFK ZDUHQ 'D GXUFKGDVVYLHOHQRUWVVRYLHOH0HQVFKHQ VHLHVGXUFK:HKUGLHQVWRGHU8PVLHGOXQJ JH]ZXQJHQ ZDUHQ LKU /HEHQ XQWHU DQGHUV VSUHFKHQGHQ 0HQVFKHQ IRUW]XVHW]HQ ULVVGLH.RQWLQXLWlWGHUJOHLFKPl LJYHUODXIHQGHQ6SUDFKHQWZLFNOXQJSO W]OLFKDEHV NDP ]X JUR HQ 8PELOGXQJHQ GHUHQ 7UDJZHLWH ELV KHXWH QRFK QLFKW DEVFKOLH HQG EHXUWHLOWZHUGHQNDQQ 'LH0XQGDUWHQYRULKUHPKLVWRULVFKHQXQGVR]LRORJLVFKHQ+LQWHUJUXQG :LHOLHJHQDEHUGLHVSUDFKOLFKHQ9HUKlOWQLVVHLQgVWHUUHLFKXQGZHOFKH6FKLFKWHQ ELOGHQVHLQVSUDFKOLFKHV*HI JH"8PGLHVH)UDJH]XNOlUHQPXVVPDQVLHYRUDOOHP YRQ]ZHL*HVLFKWVSXQNWHQKHUEHWUDFKWHQYRPKLVWRULVFKHQXQGYRPVR]LRORJLVFKHQ + L V W R U L V F K JHVHKHQKDEHQVLFKGLH VWHUUHLFKLVFKHQ0XQGDUWHQDXVGHP0LWWHO KRFKGHXWVFKHQHQWZLFNHOW6FKRQLP0LWWHODOWHUH[LVWLHUWHQQHEHQHLQDQGHUYHUVFKLH GHQH0XQGDUWHQGLHEHLGHQZLFKWLJVWHQXQWHULKQHQGLHEDLULVFKHXQGGLHDOHPDQQL VFKH6WDPPHVPXQGDUWZXUGHQXQGZHUGHQLQgVWHUUHLFKJHVSURFKHQ=XU=HLWGHU %O WH GHU PLWWHOKRFKGHXWVFKHQ 'LFKWXQJ ZDU GLH DOHPDQQLVFKH 0XQGDUW WRQDQJH EHQGDXVLKUZXUGHJHUDGH]XHLQH'LFKWHUVSUDFKHHLQH+RFKVSUDFKHKHUDXVHQWZL FNHOW 1DFK GHP (QGH GHV 5LWWHUWXPV XQG VHLQHU +RFKNXOWXU LP XQG -DKU KXQGHUWEHJDQQHQYRQJDQ]DQGHUHU6HLWHKHUQHXH%HVWUHEXQJHQZLUNVDP]XZHU GHQ,Q GHU )ROJH ELOGHWH VLFK GLH QHXKRFKGHXWVFKH 6FKULIWVSUDFKH DXV GHU 3UDJHU XQG:LHQHU+RINDQ]OHLVSUDFKHKHUDXV,KUHQEHLGHQ%LOGXQJVRUWHQJHPl HQWQDKP VLH I U LKUHQ /DXW XQG )RUPHQVWDQG VRZLH I U LKUHQ :RUWVFKDW] 0DWHULDO DXV GHQ RVWPLWWHOGHXWVFKHQZLHDXVGHQLPV GOLFKHQGHXWVFKHQ6SUDFKJHELHWJHVSURFKHQHQ REHUGHXWVFKHQ0XQGDUWHQ:lKUHQGGLHVH6SUDFKQRUPVLFKLP/DXIHYRQ-DKUKXQ GHUWHQDOVGLHI UGDVJHVDPWH6SUDFKJHELHWJ OWLJH6FKULIWXQG+RFKVSUDFKHLPPHU PHKUIHVWLJWHEHVWDQGHQGLHDQHLQ]HOQH/DQGVFKDIWHQXQG2UWHJHEXQGHQHQ0XQG

11 (LQOHLWXQJ DUWHQ QDKH]X XQEHVFKUl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²ZHLW XQG²:HLGH KDEHQEHLGH LQLKUHP6WDPPHLQHQHL/DXW GHUXQYRUHLQJHQRPPHQH%HWUDFKWHUN QQWHPHLQHQ GDVVLQEHLGHQ)lOOHQGHUVHOEH/DXWYRUOLHJWXQGGLHPXQGDUWOLFKH8QWHUVFKHLGXQJLQ ZDLW ZHLW XQG :DG :HLGH :LOON U VHL =LHKW PDQ MHGRFK GDV 0LWWHOKRFKGHXW VFKHKHUDQVR]HLJWVLFKGDVVGDVHUVWH:RUWDXVPKGZ WHQWVWDQGHQLVWGDV]ZHLWH DEHUDXVPKGZHLGH'HUPKG /DXWHQWZLFNHOWHVLFKODXWJHVHW]OLFK]XHLVSULFKDL ZHLWHU ZRULQDXFKGLH6FKULIWVSUDFKHGHUEDLULVFKHQ0XQGDUWIROJWH GHUHL/DXW DEHUZXUGHPXQGDUWOLFK]XDE]ZVWlGWLVFK]XDHLQH(QWZLFNOXQJDQGHUVLFKGLH 6FKULIWVSUDFKHQLFKWEHWHLOLJWH bkqolfklvwglh/djhdxfkehlghqx/dxwhq(lq9hujohlfkghu: UWHU²0XWWHU XQG ²SXW]HQ HUJLEW YRP 6WDQGSXQNW GHU 6FKULIWVSUDFKH NHLQHUOHL 8QWHUVFKLHG GHV 6WDPPYRNDOV'LH0XQGDUWDEHUXQWHUVFKHLGHW]ZLVFKHQ0XDWDXQGEXWVVQXQGZHLVW GDGXUFKHLQGU FNOLFKGDUDXIKLQGDVVLP0LWWHOKRFKGHXWVFKHQWDWVlFKOLFK]ZHLYHU VFKLHGHQH /DXWH QlPOLFK XR PXRWHU XQG X SXW]HQ YRUOLHJHQ VLHKH hehuvlfkw 6'LHQHXKRFKGHXWVFKH6FKULIWVSUDFKHVFKORVVVLFKLQGLHVHP3XQNWHGHUPLWWHO GHXWVFKHQ0XQGDUWDQGLHGLH8QWHUVFKHLGXQJ]ZLVFKHQXRXDXQGXIDOOHQOLH %HVRQGHUVHUKHOOHQGZLUGGLHVH(UNHQQWQLVHUVWGDQQZHQQPDQEHREDFKWHWGDVVLQ DOOHQ)lOOHQLQGHQHQ PKGXRYRUOLHJWLQGHU 0XQGDUW XD XL RGHUXH JHVSURFKHQ ZLUGDOVRGHU=ZLHODXWXQXPVW OLFKHUKDOWHQEOHLEW(VLVWKLHUDOVRWDWVlFKOLFKYRQ /DXWJHVHW]HQDXV]XJHKHQGLHVLFKJHUDGH]XEHKDUUOLFKGXUFK-DKUKXQGHUWHKLQGXUFK HUKDOWHQKDEHQ:LHVWDUNGLHVH.UDIWGHU%HKDUUOLFKNHLWJHUDGHLP6SUDFKOLFKHQLVW ZLUGGDQQHUVWYROOHQGVNODUZHQQPDQGLH EULJHQ(UVFKHLQXQJVEHUHLFKHGHV9RONV W POLFKHQDXI6FKZXQGRGHU(UKDOWXQJGHV$OWKHUJHEUDFKWHQXQWHUVXFKW/lQGOLFKH 9RONVNXQVWXQG*HEUlXFKH6SLHOH7lQ]H7UDFKWHQXVZVLQGLQYLHOHQ*HJHQGHQ HQWZHGHU OlQJVW JHVFKZXQGHQ RGHU QXU QRFK LQ VSlUOLFKHQ 5HVWHQ YRUKDQGHQ 'LH 0XQGDUWGDJHJHQEOLHELQLKUHUDOWHQ*HVWDOWXQJZHLWJHKHQGELV]XU*HJHQZDUWHU KDOWHQ,PJHVHOOVFKDIWOLFKHQ9HUNHKUJLEWHVIUHLOLFKOlQJVWYHUVFKLHGHQH$QSDVVXQ JHQVRZHLFKWGHUGLH0XQGDUWJHZRKQWH/DQGEHZRKQHULP*HVSUlFKPLW3HUVRQHQ DXVGHU6WDGWJHUQHYRQVHLQHULKPDQVRQVWHQVHOEVWYHUVWlQGOLFKHUVFKHLQHQGHQ6SUD FKH DE XQG YHUVXFKW VLFK PHKU XPJDQJVVSUDFKOLFKHUH RGHU VFKULIWVSUDFKHQQlKHUH

12 (LQOHLWXQJ )RUPHQDQ]XHLJQHQ,QGHQOHW]WHQI QI]LJ-DKUHQLVWDXFKGHU(LQIOXVVGHU0HGLHQ LQVEHVRQGHUH GHV YRUQHKPOLFK EXQGHVGHXWVFK JHSUl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lQGHXQG%HUXIVJUXSSHQQLFKWQXULKUHHLJHQH $XVGUXFNVZHLVHXQGLKUHQHLJHQHQ:RUWVFKDW]VRQGHUQDXFKLKUHHLJHQH$XVVSUD FKH6RLVWHVDOVRP JOLFKGDVVDQGHPVHOEHQ2UWLQVEHVRQGHUHLPVWlGWLVFKHQ%H UHLFKJU EVWH0XQGDUWXQGDXVJHIHLOWHVWH+RFKVSUDFKHHLQDQGHUJHJHQ EHUVWHKHQ 1DW UOLFKJLEWHV]ZLVFKHQGLHVHQEHLGHQlX HUVWHQ*UHQ]IlOOHQQRFKYHUVFKLHGHQH =ZLVFKHQVWXIHQ 8QDEKlQJLJ YRQ LKUHQ IHLQHQ 1XDQFLHUXQJHQ ZLUG DOOHV ZDV ]ZL VFKHQ +RFKVSUDFKH XQG 0XQGDUW OLHJW XQG YRQ EHLGHQ EHHLQIOXVVW LVW DOV 8 P JDQJVE]Z9HUNHKUVVSUDFKH EH]HLFKQHW6LHWULWWEHVRQGHUV GRUW DXI ZR YLHOH0HQVFKHQDXVYHUVFKLHGHQHQ*HJHQGHQ]XVDPPHQNRPPHQXQGZLHYRQVHOEVW DOOH EHVRQGHUHQ (LJHQW POLFKNHLWHQ GHU 0XQGDUWHQ GXUFK $QSDVVXQJHQ YHUORUHQ JHKHQ'LH8PJDQJVVSUDFKHLVWDXFKDXIGHP/DQGVWDUNYRQGHQ6WDGWPXQGDUWHQ DOVGHQIHLQHUYRUQHKPHUJHOWHQGHQEHHLQIOXVVWLQgVWHUUHLFKLQVEHVRQGHUHYRQGHU :LHQHU0XQGDUWXQWHUGHUHQ(LQZLUNXQJZLHGHUGLH/LQ]HU*UD]HU.ODJHQIXUWHU 0XQGDUWHQVWHKHQ'LHYHUVFKLHGHQDUWLJJHSUlJWH8PJDQJVVSUDFKHLVWDOVRYRUDOOHP LQ YHUNHKUVUHLFKHQ *HJHQGHQ XQG,QGXVWULHJHELHWHQ ]X ILQGHQ $EJHVHKHQ GDYRQ EHGLHQHQVLFKLKUHUVR]LDOJHKREHQH3HUVRQHQGLHI UJHZ KQOLFKGLH+RFKVSUDFKH JHEUDXFKHQ LP 8PJDQJ PLW ²XQWHUHQ %HY ONHUXQJVVFKLFKWHQ YRQ GHQHQ VLH GHQ *HEUDXFKGHU0XQGDUWYRUDXVVHW]HQZlKUHQGGLHVHZLHGHUXPQDFK$QSDVVXQJDQ GLH²REHUHQ 6FKLFKWHQVWUHEHQ%HLGHILQGHQHLQDQGHULQGHU9HUNHKUVVSUDFKH0LW GHQ%DXHUQPXQGDUWHQLQGHQHQVLFKGLH=HXJQLVVHlOWHVWHQ6SUDFKJHEUDXFKHVZHLW JHKHQGHUKDOWHQKDEHQKDWGLHVHDOOHUGLQJVNDXPQRFKHWZDV]XWXQ 'LH'DUVWHOOXQJGHU VWHUUHLFKLVFKHQ0XQGDUWHQLP)ROJHQGHQVROOP JOLFKVWDOOJH PHLQYHUVWlQGOLFKVHLQ:LHZRKOVLHQDW UOLFKVDFKOLFKDXIGHQ(UJHEQLVVHQGHUZLV VHQVFKDIWOLFKHQ0XQGDUWIRUVFKXQJLQVEHVRQGHUHGHV-DKUKXQGHUWVJU QGHWZXU GHDXIZLVVHQVFKDIWOLFKH7HUPLQRORJLHZHLWJHKHQGYHU]LFKWHW =XU/DXWVFKULIW 9HUVXFKH]XU$XIVWHOOXQJHLQHU/DXWVFKULIWZXUGHQXQGZHUGHQYRQYHUVFKLHGHQHQ 6HLWHQ LPPHU ZLHGHU XQWHUQRPPHQ YRU DOOHP DXFK I U GHQ )UHPGVSUDFKHQXQWHU

13 (LQOHLWXQJ ULFKWGLHPHLVWHQGHUDUWLJHQ6\VWHPHXQWHUVFKHLGHQVLFKMHGRFKVWDUNYRQHLQDQGHU 'DV,QVWLWXWI U VWHUUHLFKLVFKH'LDOHNWXQG1DPHQOH[LNDGHUgVWHUUHLFKLVFKHQ$ND GHPLH GHU :LVVHQVFKDIWHQ YHUZHQGHW I U VHLQH =ZHFNH HLQ VWUHQJ ZLVVHQVFKDIWOLFK EHJU QGHWHV=HLFKHQV\VWHPGDVDEHULP,QWHUHVVHGHUDOOJHPHLQHQ9HUVWlQGOLFKNHLW XQG OHLFKWHQ /HVEDUNHLW KLHU QLFKW DQJHZHQGHW ZHUGHQ NRQQWH $QGHUHUVHLWV ZlUH DEHU DXFK HLQH VR ZHLW JHKHQGH $QJOHLFKXQJ GHU /DXWVFKULIW DQ GDV JHZ KQOLFKH $OSKDEHW QLFKW ]ZHFNHQWVSUHFKHQG ZLH VLFK GDV ]% HLQ 0XQGDUWGLFKWHU HUODXEW GHU WURW] DOOHU =XJHVWlQGQLVVH DQ GLH 1RUPDORUWKRJUDILH PLW GHP ULFKWLJHQ 9HU VWlQGQLV EHL VHLQHP /HVHUNUHLV UHFKQHQ NDQQ +LHU VROOHQ DEHU JHUDGH GLH 8QWHU VFKLHGHGHUHLQ]HOQHQ0XQGDUWHQKHUDXVJHDUEHLWHWZHUGHQJU HUH*HQDXLJNHLWLVW GDKHUXQHUOlVVOLFK*UXQGVDW]GHUKLHUYHUZHQGHWHQ/DXWVFKULIWLVWGHUGDVVQXUDOOHV ZLUNOLFK *HVSURFKHQH XQG PLW GHP *HK U :DKUQHKPEDUH ZLHGHUJHJHEHQ ZLUG 0DQ PXVV VLFK DOVR JlQ]OLFK YRP JHZRKQWHQ 6FKULIWELOG IUHLPDFKHQ XQG VLFK EH P KHQQXUGDVDXV]XVSUHFKHQZDVZLUNOLFKDXIGHP3DSLHUVWHKW %HL 6 H O E V W O D X W H Q 9RNDOHQXQWHUVFKHLGHWPDQ. U]HQXQG/lQJHQ'LH. U]HQ ZHUGHQQLFKWHLJHQVEH]HLFKQHWGLH/lQJHQQXUEHLV GEDLULVFKHQ0XQGDUWHQZRVLH EHVRQGHUVDXIIlOOLJVLQGPLWHLQHP4XHUVWULFK EHUGHP/DXW]%VQHVVHQO!VQ ODVVHQLQGHU.lUQWQHU0XQGDUW) UGLH0XQGDUWHQYRQ:LHQ1LHGHU VWHUUHLFK %XUJHQODQG2EHU VWHUUHLFKXQGGHV*UR WHLOVYRQ6DO]EXUJJLOWGLH5HJHOGDVVHLQ 6HOEVWODXWYRU6FKZDFKODXWHQEGJEIGVFKVVFKVRZLHYRUUOQHWZDVJHGHKQW ]XOHVHQLVWYRU6WDUNODXWHQSWNSIWVVFKFKVVVFKVFKDEHUNXU] $XIDXIIlOOLJH %HVRQGHUKHLWHQ ZLUG LQ )X QRWHQ KLQJHZLHVHQ 'HKQXQJV]HLFKHQ ZLH LQ GHU 1RU PDORUWKRJUDILHLHKZHUGHQQLFKWYHUZHQGHW%HWRQXQJV]HLFKHQGDUJHVWHOOWGXUFK $N]HQW ZHUGHQQXUGDQQJHVHW]WZHQQGLH%HWRQXQJQLFKWDXIGHUHUVWHQ6LOEH HUIROJW 'HU $XVIDOO HLQHV /DXWHV ZLUG ZR GLHV QRWZHQGLJ HUVFKHLQW GXUFK +RFK VWHOOXQJDQJHGHXWHW ]% *DUQ *DUQ )GQ )DGHQ 8QWHU GHPH XQG R ILQGHW VLFK ZHQQ HV ²RIIHQ JHVSURFKHQ ZLUG GDV giiqxqjv]hlfkhq g 'HU$XVGUXFN ²RIIHQ EHGHXWHWGDVVgXQGNODQJOLFKGHPDQlKHUVWHKHQDOVHXQGR*HVFKORVVH QHVHQHLJWVFKRQPHKU]XPLKLQHVZLUGIDVWDXIGHPJDQ]HQ VWHUUHLFKLVFKHQ*H ELHWLP:RUW(VHOJHVSURFKHQ2IIHQHVgLVW]%DXVGHPVFKULIWVSUDFKOLFKHQ:HWWHU EHNDQQWRGHUDXVGHPPXQGDUWOLFKHQEgWQEHWHQ'HURIIHQHR/DXWLVWMHQHU]ZL VFKHQ D XQG R VWHKHQGH /DXW GHU PHLVW I U VFKULIWVSUDFKOLFKHV D JHVSURFKHQ ZLUG ]%cvg$vwdehudxfki UPDQFKHVFKULIWVSUDFKOLFKHR]%LQ%UG%URW,Q YLHOHQYRONVW POLFKHQ0XQGDUWVFKULIWHQZLUGHUDOVZLHGHUJHJHEHQ'LHVHV=HLFKHQ GLHQW DEHU GHU KLHU YHUZHQGHWHQ /DXWVFKULIW I U GHQ RIIHQHQ R/DXW YRU 1DVDOHQ QP GHU QlPOLFK ZLHGHU HLQH JDQ] HLJHQH )luexqj EHVLW]W ]% %QJ %DQN %QO% KQOHLQRGHU:QXQJ:RKQXQJLP:LHQHULVFKHQ =XGHQ4XDQWLWlWVYHUKlOWQLVVHQGHUPEDLU0XQGDUWHQYJO$QWRQ3)$/='LH0XQGDUWGHV0DUFKIHO GHV:LHQ

14 (LQOHLWXQJ 8QWHUGHQ = Z L H O D X W H Q 'LSKWKRQJHQP VVHQDLXQGHLEHVRQGHUVKHUYRUJHKR EHQZHUGHQDLEH]HLFKQHWGHQ/DXWGHU6FKULIWVSUDFKHLQ²(L:HLQ0DL HLLVWJH WUHQQW]XOHVHQHLXQGNRPPW]%LQVWHLULVFKHQXQGEXUJHQOlQGLVFKHQ0XQGDU WHQYRUJHLEPJHEHQ6FKZHLVWD6FKZHVWHU'LHLQXQEHWRQWHU6LOEHRGHUDOV]ZHL WHV *OLHG HLQHV =ZLHODXWHV DXIWUHWHQGHQ 6FKZDFKODXWH GLH DQ D RGHU H HULQQHUQ ZHUGHQDXV*U QGHQGHU9HUHLQIDFKXQJHEHQVRPLWDRGHUHZLHGHUJHJHEHQGDLQ YLHOHQ )loohq QLFKW HLQGHXWLJ ]ZLVFKHQ YROO XQG VFKZDFKWRQLJHP DE]ZH XQWHU VFKLHGHQ ZHUGHQ NDQQ 6FKZDFKWRQLJHV DLVWHWZDEHL)GD 9DWHU LQ PLWWHOEDLUL VFKHQ0XQGDUWHQVFKZDFKWRQLJHVHEHL0XHWU0XWWHULQV GEDLULVFKHQ0XQGDUWHQ HQWKDOWHQ6FKOLH OLFKPXVVQRFKDXIGLH1DVDOLHUXQJYRQ6HOEVWODXWHQKLQJHZLHVHQ ZHUGHQGLHYRUQXQGPLQGHQEDLULVFKHQ0XQGDUWHQUHJHOPl LJHLQWULWW6LHZLUG DOV HWZDV 6HOEVWYHUVWlQGOLFKHV QLFKW HLJHQV EH]HLFKQHW 8QWHUEOHLEW VLH DEHU ZHLO ]ZLVFKHQGHP 6HOEVWODXWXQG GHP 1DVDOODXW HLQVW HLQ /DXW YRUKDQGHQ ZDU GHU VLH YHUKLQGHUWHDEHUQXQJHVFKZXQGHQLVWZLUGGLHVHUJHVFKZXQGHQH/DXWGD]ZLVFKHQ JHVHW]WXQGKRFKJHVWHOOW:l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lUHQ 6FKULIWHQ RIW PLW JJ EH]HLFKQHW +JJD +DFNH 'LH $XVVSUDFKH GHV VFKULIWVSUDFKOLFKHQ N/DXWHV LP $QODXWZLUGPLWNKZLHGHUJHJHEHQ]%NKDQNHLQ'DVLVWLQVRIHUQZLFKWLJDOVN YRUQOULQGHQPLWWHOEDLULVFKHQ0XQGDUWHQ EHUKDXSWVFKZDFKDOVJDXVJHVSURFKHQ ZLUG]%*QgFKG.QHFKWJODQNOHLQ*UXDJ.UXJZlKUHQGLQGHQV GEDLUL VFKHQ 0XQGDUWHQ.KQgFKW NKODQ.KUXDJ JHJHQ EHUVWHKHQ,P,QODXW ]ZLVFKHQ 9RNDOHQRGHUYRU1DVDOQP/LTXLGOUVRZLHLP$XVODXWZLUGNDOV6WDUNODXWLQ $QOHKQXQJ DQ GLH 6FKULIWVSUDFKH DOV FN JHVFKULHEHQ *OHFNDO *O FNOHLQ %UXFNQ %U FNH*OLFN*O FNGLHV GEDLULVFKHQ0XQGDUWHQZHLVHQKLHUGLH%HVRQGHUKHLW GHVNKRGHUNFKDXI]%DXIKHQNKQDXIKlQJHQLQ.lUQWHQ6FKSHNFK6SHFNLQ 7LURO=XGHQ6FKZDFKODXWHQEIGVLQGHU6FKULIWVSUDFKH]FKIVVFKZHUGHQGLH HQWVSUHFKHQGHQ 6WDUNODXWH DOV SSI WVV FKFK II VV VFKVFK ZLHGHUJHJHEHQ 'HU :HFKVHOYRQ6FKZDFKODXWPLWHQWVSUHFKHQGHP6WDUNODXWILQGHWVLFK]%LP0LWWHO EDLULVFKHQ]XU8QWHUVFKHLGXQJYRQ(LQ]DKOXQG0HKU]DKO.KREI¼.KHSSI.RSI 'D GLH 6FKZDFKODXWH LQ GHQ VWHUUHLFKLVFKHQ 0XQGDUWHQ LQ GHU 5HJHO RKQH 6WLPPWRQ JHVSURFKHQ ZHUGHQZXUGHHLQH8QWHUVFKHLGXQJLQVWLPPKDIWHXQGVWLPPORVHQLFKWJHWURIIHQ

15 (LQOHLWXQJ. SIH:LGV¼:LWVV:LW] :LW]H5DI¼5gDII5HLI 5HLIHQ0DQVSULFKWKLHU PLW.5$1=0$<(567HUPLQRORJLH YRQ(LQVLOEHUGHKQXQJGDVPKGNXU]JHVSURFKH QH:RUWNRSIZLUGJHGHKQWZlKUHQGGHU]ZHLVLOELJH3OXUDOPKGN SIHDXFKQDFK :HJIDOOGHU(QGXQJGLH. U]HDOVNHSIEHZDKUW EHUVLFKW EHUGLH VWHUUHLFKLVFKHQ0XQGDUWHQ $OVGLH%DMXZDUHQGDV$OSHQXQG'RQDXODQGEHVLHGHOWHQZXUGHDXIGHPJHVDPWHQ *HELHWXQJHIlKUGLHJOHLFKH6SUDFKHJHVSURFKHQ1XULPlX HUVWHQ:HVWHQgVWHU UHLFKVLPKHXWLJHQ9RUDUOEHUJOLH HQVLFK$OHPDQQHQQLHGHUXQGQRFKKHXWHYHU OlXIWGDKHUDQQlKHUQG EHUGHQ$UOEHUJDQGHU/DQGHVJUHQ]H7LURO9RUDUOEHUJGLH VFKlUIVWH 0XQGDUWJUHQ]H gvwhuuhlfkv $EHU DXFK LP EHUZLHJHQGHQ EDLULVFKHQ 6SUDFKJHELHWgVWHUUHLFKVEOLHEGLHDOWH(LQKHLWQLFKWLPPHUHUKDOWHQ:LHPDQDXV GHU8UNXQGHQVSUDFKHHUVHKHQNDQQZDUHQLP+RFKPLWWHODOWHUVFKRQGHXWOLFKDXV JHSUlJWH (LQ]HOPXQGDUWHQ DXFK DXI VWHUUHLFKLVFKHP %RGHQ YRUKDQGHQ,KUH (QW VWHKXQJ KlQJW PLW GHU $XVELOGXQJ YRQ NODU XPJUHQ]WHQ +HUUVFKDIWVJHELHWHQ PLW IHVWHUODQGHVKHUUOLFKHU5HVLGHQ]]XVDPPHQ'XUFKJHJHQVHLWLJH$ENDSVHOXQJELOGH WHQVLFKLPPHUPHKU8QWHUVFKLHGHKHUDXV,P'RQDXWDOLP:LHQHU%HFNHQXQGLP $OSHQYRUODQGGLHQDWXUJHPl GLHJU WHQ9HUNHKUVJHELHWHZDUHQHQWVWDQGHQLP PHUZLHGHU6SUDFKQHXHUXQJHQGLHDEHUVHLWGHP-DKUKXQGHUWQLFKWPHKUQDFK GHP6 GHQGHVEDLULVFKHQ6SUDFKJHELHWHV EHUGLH.HWWHGHUQ UGOLFKHQ.DONDOSHQ KLQZHJYRUGUDQJHQ(EHQVRGUDQJHQVLHLP1RUGHQGHU'RQDX EHUGHQ% KPHU ZDOGQLFKW KLQDXV6RHUNOlUWHVVLFKGDVVPLWWHQGXUFK GDVEDLULVFKH6SUDFKJHELHW HLQ6WUHLIHQ²PRGHUQHU 6SUDFKODQGVFKDIWHQ]LHKWGDVVRJHQDQQWH0LWWHOEDLULVFKH ZlKUHQGLP6 GHQGDV6 GEDLULVFKHXQGLP1RUGHQGDV1RUGEDLULVFKHELVLQ 6 GE KPHQDOVNRQVHUYDWLYH0XQGDUWHQHUKDOWHQEOHLEHQ) UgVWHUUHLFKNRPPHQ QXUGDV0LWWHOXQGGDV6 GEDLULVFKHLQ%HWUDFKW 'DV 0LWWHOEDLULVFKH XPIDVVW :LHQ 1LHGHU VWHUUHLFK %XUJHQODQG 2EHU VWHUUHLFK GHQ*UR WHLOYRQ6DO]EXUJXQGHLQHQNOHLQHQ7HLOGHU6WHLHUPDUN'DV6 GEDLULVFKH HUVWUHFNWVLFK EHUGHQ+DXSWWHLOGHU6WHLHUPDUN EHUJDQ].lUQWHQXQG7LUROXP IDVVWDEHUDXFKGLHV GOLFKVWH6SLW]HGHV%XUJHQODQGHVXQG7HLOHYRQ6DO]EXUJ(LQL JH%XQGHVOlQGHUJHK UHQDOVRQLFKWHLQKHLWOLFKHLQHPGHUEHLGHQJUR HQ0XQGDUW JHELHWHgVWHUUHLFKVDQHVZlUHGDKHUGLH'DUVWHOOXQJGHU VWHUUHLFKLVFKHQ0XQGDU 9JO(EHUKDUG.5$1=0$<(5+LVWRULVFKH/DXWJHRJUDSKLHGHVJHVDPWEDLULVFKHQ'LDOHNWUDXPHV:LHQ ( %LVDXIGLH/lQJHQEH]HLFKQXQJHQGXUFK4XHUVWULFKH EHUGHQ9RNDOHQXQGGLH8QWHUVFKHLGXQJ]ZL VFKHQ DL XQG HL HQWVSULFKW GLH KLHU YHUZHQGHWH /DXWVFKULIW GHU YRQ 0DXUL] 6&+867(5 XQG +DQV 6&+,.2/$ HQWZLFNHOWHQ DXI GHQ (UIDKUXQJHQ GHU :LHQHU PXQGDUWNXQGOLFKHQ 6FKXOH EDVLHUHQGHQ /DXWVFKULIW ZLH VLH YRU DOOHP DXFK LQ 0DULD *6 ²: UWHUEXFK GHU :LHQHU 0XQGDUW :LHQ $QZHQGXQJIDQGYJOGRUW6XQG

16 (LQOHLWXQJ.$57( 0XQGDUWOLFKH*OLHGHUXQJgVWHUUHLFKV Oberösterreich Vorarlberg Tirol Salzburg Osttirol Kärnten PLWWHOEDLULVFK 1LHGHU VWHUUHLFK2EHU VWHUUHLFK hehujdqjvjhelhw PLWWHOV GEDLULVFK 6DO]EXUJ6WHLHUPDUN%XUJHQODQG V GEDLULVFK 7LURO.lUQWHQ DOHPDQQLVFK 9RUDUOEHUJ Niederösterreich WIEN Steiermark Burgenland

17 (LQOHLWXQJ WHQ QDFK %XQGHVOlQGHUQ YRP VWUHQJ ZLVVHQVFKDIWOLFKHQ 6WDQGSXQNW DXV QLFKW JDQ] JHUHFKWIHUWLJW 6LH HUVFKHLQW DEHU LQVRIHUQ ]ZHFNPl LJ DOV VLFK MHGHU,QWHUHVVLHUWH EHUVHLQHLJHQHV%XQGHVODQGRULHQWLHUHQNDQQXQGQLFKWJH]ZXQJHQLVWGLHHQWVSUH FKHQGHQ,QIRUPDWLRQHQ HLQHU ) OOH YRQ JHERWHQHP 6WRII P KVDP ]X HQWQHKPHQ 'DPLWDEHUDQGHUHUVHLWVGLHJUR HQ=XVDPPHQKlQJHXQG*HJHQVlW]HLQQHUKDOEGHV JHVDPWHQ.RPSOH[HVGHU VWHUUHLFKLVFKHQ0XQGDUWHQNODUHUNDQQWZHUGHQN QQHQ VROOHQ LP )ROJHQGHQ GLH DXIIlOOLJVWHQ 0HUNPDOH GHV 0LWWHO ZLH GHV 6 GEDLULVFKHQ NXU] GDUJHOHJW ZHUGHQ 'LH *HJHQVlW]H ]ZLVFKHQ GHP $OHPDQQLVFKHQ XQG %DLUL VFKHQZHUGHQLP.DSLWHO9RUDUOEHUJEHKDQGHOW 9RQREHUIOlFKOLFKHQ%HXUWHLOHUQGHU0XQGDUWNDQQPDQPDQFKPDOK UHQGDVVHWZD GLH QLHGHU VWHUUHLFKLVFKHQ RGHU GLH REHU VWHUUHLFKLVFKHQ 0XQGDUWVSUHFKHU VLFK GXUFKHLQHJDQ]DX HURUGHQWOLFKH²0XQGIDXOKHLW DXV]HLFKQHWHQHLQ]HOQH0LWODXWH VFKZlQGHQJDQ]DQGHUHZ UGHQJHUDGHQXUDQJHGHXWHW6RXQJHUHFKWGLHVHV8UWHLO LVWVROLHJWGRFKHLQHULFKWLJH%HREDFKWXQJ]XJUXQGH(LQHVGHUZLFKWLJVWHQ&KDUDN WHULVWLNDGHU P L W W H O E D L U L V F K H Q 0XQGDUWLVWQlPOLFKGLHLQZHLWHQ5lXPHQZLUN VDPH 0LWODXWVFKZlFKXQJ GLH MHGRFK NHLQH ²0XQGIDXOKHLW VRQGHUQ HLQH ODXWJH VHW]OLFKH(QWZLFNOXQJLVW(LQIDFKHU6WDUNODXWZLUGKLHU]XP6FKZDFKODXWJHPLQGHUW S]XEW]XG7DJ>'J'FK3HFK>%H>FK@NYRUOQU]XJ.QHFKW>*QgFKG ZlKUHQGHVVRQVWEHKDXFKWHU6FKZDFKODXWLVW.KXD.XKJHVFKZlFKWZHUGHQPLW XQWHU'RSSHOODXWH]XHLQIDFKHQ6WDUNODXWHQRGHUVRJDU]X6FKZDFKODXWHQDFNHUQ> NDUQVWDWWFNDUQ+ WWH>+LWQVWDWW+LWWQ6XSSH>6XSPVWDWW6XSSP6FKZDFK ODXWH VFKOLH OLFK NRQQWHQ HUKDOWHQ EOHLEHQ ZXUGHQ MHGRFK ]X 5HLEHODXWHQ E]XZ :HEHU>:HZDOLHEHU>OLDZDRGHUYHUVWXPPWHQJDQ]%XEH>%XD:HLE>:DL.UXJ> *UXL %HVRQGHUV DXIIlOOLJ HUVFKHLQW GLHV RIW EHL )UHPGZ UWHUQ ]% $ZD GœNQI U²$SRWKHNH,QDOWHQ%DXHUQPXQGDUWHQIHKOWDXFKFKVHKUKlXILJEUDXD EUDXFKHQVXDD VXFKHQ %XDD %XFKH HEHQVR GDV K 'VHD =HKH ODLD OHL KHQ (LQKHUPLWGHU6FKZlFKXQJGHU0LWODXWHJHKHQ9HUVFKPHO]XQJVXQG$QJOHLFKVHU VFKHLQXQJHQ6RZLUG]%²UHGHQ HLQIDFKUHGQ²VLHGHQ VLDGQRGHUVHRGQ²OHEHQ OHEP XQG ²KHEHQ KHEP UO XQG GHO YHUVFKPHO]HQ KlXILJ ]X VLOELVFKHP O 1GO 1DGHO0DGO0lGHOLIDGODLQLFKIlGOHHLQ 'DV]ZHLWHEHGHXWHQGH&KDUDNWHULVWLNXPGHV0LWWHOEDLULVFKHQLVWGLH9RNDOLVLHUXQJ GHVOXQGULQJHZLVVHQ6WHOOXQJHQGKGDVVDXVUXQGOHLQ6HOEVWODXWZLUG*DGQ *DUWHQ+gDWVV+HU]:LG:DOGLILLFKIDOOHI YLHO*VFKE *HVSLHO $XFK LQ GLHVHU (UVFKHLQXQJ NDQQ PDQ HLQH $UW 6SUHFKHUOHLFKWHUXQJ VHKHQ LQGHP GDV O XQG U GHQ P KHORVHU ]X VSUHFKHQGHQ 9RNDOHQ ZHLFKHQ bkqolfkh 3ULQ]LSLHQ OLHJHQ QDW UOLFK DXFK EHLP 6FKZXQG GHU QHEHQWRQLJHQ 9RNDOH YRU GHQ PDQ ]% VHKUVFK QLQGHU9RUVLOEHJHGHV0LWWHOZRUWHVGHU9HUJDQJHQKHLWEHREDFKWHQNDQQ 2EZRKODQODXWHQGHVNKLP0LWWHOEDLULVFKHQJHQDXJHQRPPHQJKJHVSURFKHQZLUGZXUGHLP+LQEOLFN DXIGLHOHLFKWHUH/HVEDUNHLWNKJHZlKOW

18 (LQOHLWXQJ :HQQGDV=HLWZRUWPLWMOUVVFKIRGHU9RNDODQODXWHWZLUGGLH9RUVLOEH]XJ YHUN U]WJDZDWJHDUEHLWHWJMJGJHMDJWJVXQJDJHVXQJHQXVZ,QGHQ EULJHQ )loohqlvwgdvjdqghq:ruwvwdppdqjhjolfkhqzrughqxqggdgxufkjlq]olfkyhu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³DUDP IDG³DUHP YHUGHUEHQ.KLUHZLV. UELV )UDE)DUEHKDUDE JHNUlQNW < PKG K±UZH VFKULIWVSUDFKO KHUE *RULJ *XUJHO 2ULJ 2UJHO,Q 1LHGHU VWHUUHLFK K UW PDQ]%PDQFKPDOQRFK*DUHP*DUEH+LDUHVW+HUEVWILDUHFKWQI UFK WHQLP%XUJHQODQGHWZD* OLVVQ*HOVH)UHLOLFKNRPPHQVROFKH:XFKHUELOGXQ JHQQXUPHKULQVSUDFKOLFKNRQVHUYDWLYHQ%DXHUQPXQGDUWHQYRULQ1LHGHU VWHUUHLFK ]% LP %HUHLFK GHU VR JHQDQQWHQ XL0XQGDUWHQ 'RUW ZR GLH 9HUNHKUVVSUDFKH YRUJHGUXQJHQLVWVLQGVLHOlQJVWJHVFKZXQGHQ'DVVDQGHUHUVHLWVLKUH%LOGXQJKHXWH QRFKDOVHLQHOHEHQGLJHEHWUDFKWHWZHUGHQNDQQJHKWGDUDXVKHUYRUGDVVDXFKVSl WHU EHUQRPPHQH )UHPGZ UWHU HEHQIDOOV VROFKH 6SURVVYRNDOH HQWZLFNHOQ 6R VLQG DXV 2EHU VWHUUHLFK EHNDQQW 6DNDUDPœQW 6DNUDPHQW 5HJDU W 5HNUXW )DZDU N )DEULN 6RSDU Q 6RSUDQ $GDUœVV $GUHVVH.KDWDNLVœPXV.DWHFKLVPXV.D VFKHP D.DVFKPLUXYD $XFKDXVGHU)RUPHQOHKUHOLH HQVLFKPDQFKH0HUNPDOHGHV0LWWHOEDLULVFKHQDQ I KUHQ HUZlKQW VHL QXU GLH $XIJDEH GHU 6WHLJHUXQJVVWXIH GLH LP 6 GEDLULVFKHQ QRFKHUKDOWHQLVW'DVEHVVD*ZQGLVWDOVRLP0LWWHOEDLULVFKHQQLFKWQXUGDV²EHVVH UH VRQGHUQDXFKGDV²EHVWH *HZDQGXQGGDJUgVVD%XDGHU²JU HUH HEHQVRZLH GHU²JU WH %XE 9HUJOHLFKWPDQGDPLWQXQGDV6 GEDLULVFKHVRIlOOWDXIGDVVHVHLJHQWOLFKGHU 6FKULIWVSUDFKHQlKHUVWHKWDOVGDV0LWWHOEDLULVFKHXQG]ZDUGXUFK VHLQH (UKDOWXQJ GHU6WDUNODXWHXQGVHLQH%HZDKUXQJGHU1HEHQWRQVLOEHQ'HQQKLHUZLUGH[DNWJH VFKLHGHQ]ZLVFKHQ7J7DJXQG'FK'DFKGHU0XQGDUWVSUHFKHULVWYRQ+DXV DXVNHLQHU9HUVXFKXQJ]XHLQHU9HUZHFKVOXQJYRQGXQGWDXVJHVHW]W'LH1HEHQ WRQVLOEHQILQGHQVLFKQLFKWQXUEHLP0LWWHOZRUWGHU9HUJDQJHQKHLWYROODXVJHSUlJW NlUWQHULVFKJHNKIWJHNDXIWJHWUJQJHWUDJHQVRQGHUQDXFKDP:RUWHQGHZRVLH (LQHhEHUJDQJVHUVFKHLQXQJKDWGDVREHU VWHUUHLFKLVFKH+DXVUXFNYLHUWHOVLHKH6 'DDXVODXWHQGH0LWODXWHLP0LWWHOEDLULVFKHQRIWVFKZLQGHQNDQQGHU:XFKHUODXWRIW]XPDEVROXWHQ $XVODXWZHUGHQ]%%gUH%HUJ<%gUHJ

19 (LQOHLWXQJ DXFKGHU9HUNHKUVXQG8PJDQJVVSUDFKHOlQJVWYHUORUHQJHJDQJHQVLQG]%+VH +DVH6XQQD6RQQH,QHLQ]HOQHQEHVRQGHUVNRQVHUYDWLYHQ7lOHUQ7LUROVXQG.lUQ WHQVLVWGLH0XQGDUWQRFKEHKDUUOLFKHUDOVGLH6FKULIWVSUDFKHXQGEHVLW]W]%DXVODX WHQGHHGLHGLHVHUIHKOHQHWZD1UUH1DUU2XNVH2FKV'DVEHNDQQWHVWH&KD UDNWHULVWLNXPGHV6 GEDLULVFKHQGDVVLFKDXFKDPEHVWHQ]XU)HVWVWHOOXQJHLQHUV G EDLULVFKHQ 0XQGDUW HLJQHW LVW GLH 'LSKWKRQJLHUXQJ GHU DXV GHP 0LWWHOKRFKGHXW VFKHQ EHUNRPPHQHQODQJHQHXQGR/DXWH,QIROJHGHVHLJHQW POLFKHQ$N]HQWHV PLWGHPGLHVH/DXWHKLHUJHVSURFKHQZXUGHQHQWZLFNHOWHVLFKDXVODQJHPPKGHHLQ gdxqgdxvodqjhppkgrhlqd.hqqz UWHUVLQGKLHI U.FKOgD.OHH<PKGNO 6FKQgD6FKQHH<PKGVQ :gd:hk<pkgz 6gD6HH<PKGV E]ZUDW URW<PKGU W7DG7RG<PKGW W1DW1RW<PKGQ WhEHUDOOGRUWZRVLFK VROFKH /DXWXQJHQ ILQGHQ NDQQ HLQH V GEDLULVFKH 0XQGDUW YRUDXVJHVHW]W ZHUGHQ 6FKOLH OLFKLVWDXFKGHU:RUWVFKDW]LQYLHOHQ)lOOHQHLQ0D VWDEDQGHPVLFKPDQ FKHVDEOHVHQOlVVWGHQQHVJLEW: UWHUGLHQXULQPLWWHOEDLULVFKHQXQGVROFKHGLH QXU LQ V GEDLULVFKHQ 0XQGDUWHQ YRUNRPPHQ 'RFK GDUDXI VROO QRFK VSlWHU HLQJH JDQJHQZHUGHQ,QGHUIROJHQGHQhEHUVLFKWVLQGQXUGLHDOOHUZLFKWLJVWHQPXQGDUWOLFKHQ9RNDOHXQG 'LSKWKRQJH GHU 6WDPPVLOEHQ DXIJHI KUW *OHLFKZRKO LVW GDUDXV GHU JU HUH /DXW UHLFKWXP JHJHQ EHU GHU 6FKULIWVSUDFKH ZHQQ PDQ QRFK GLH LQ GHU 6SDOWH ²%HVRQ GHUKHLWHQ XQGLQGHQ)X QRWHQJHJHEHQHQ9HUZHLVXQJHQOLHVWNODUHUVLFKWOLFK 'XUFK9RNDOLVLHUXQJYRQOXQGULP0LWWHOEDLULVFKHQZLUGYRUDOOHPGLH$Q ]DKOGHUPXQGDUWOLFKHQ'LSKWKRQJHQRFKXPHLQLJHEHUHLFKHUW9JODO> L RO>R XRLXVZ: G2g: G1g:LG6EJI U²:DOG *R G2g *R G1g*RLG6EJI U²*ROG DU>D%DG1gI U²%DUW 9HUlQGHUXQJHUIDKUHQ9RNDOHRIWGXUFK5XQGXQJ)ROJWQlPOLFKO]%DXILRGHU HUXQGXQJVIlKLJH/DXWHGDQQHUVFKHLQHQGLHVHKlXILJDOV ZREHLODXFKJH VFKZXQGHQVHLQNDQQ0 FK0LOFKŒWDQ(OWHUQ) )HOORGHU) G)HOG'DV VWHKW]XP LQGHPVHOEHQ9HUKlOWQLVZLHGDVg]XPH,P*HJHQVDW]GD]XVSULFKW PDQYRQ(QWUXQGXQJZHQQPLW/LSSHQUXQGXQJJHELOGHWH9RNDOH]%PKG vlqghu0xqgduwdovlhgdxiwuhwhq+lwwqrghu+lwwh+ WWH%HFN% FNHEgV E VH

20 (LQOHLWXQJ (LQOHLWXQJ EHUVLFKW EHUGLH9RNDOHXQG'LSKWKRQJHGHU6WDPPVLOEHQGHU6FKULIWVSUDFKHLP9HUJOHLFK]XPLWWHOKRFKGHXWVFKHQXQGPXQGDUWOL FKHQ /DXWHQ 9RQ GHQ PGDO /DXWHQWVSUHFKXQJHQ NDQQ KLHU QLFKW GLH JDQ]H ) OOH JHERWHQ ZHUGHQ HV JHOWHQ GLH QDFK PEDLUPLWWHOEDLULVFKV GEDLUV GEDLULVFKYEJYRUDUOEHUJLVFKDQJHI KUWHQ%HLVSLHOHLQGLHVHU)RUPQLFKW EHUDOOLQ GHQPXQGDUWOLFKHQ*UR JHELHWHQ=XGHQPGDO9RNDOHQYRUDOOHPLQGHU6WHOOXQJYRUPQOUYJOGLH6SDOWH²%HVRQGHU KHLWHQ GLHDXIDQJHI KUWH%HLVSLHOHLP%XFKYHUZHLVW 6FKULIWVSUDFKH 0LWWHOKRFKGHXWVFK 0GDO(QWVSUHFKXQJHQDXVGHP0EDLU6 GEDLUXQG9EJ %HVRQGHUKHLWHQ DDD 6DFN EODVHQ D VDF EO VHQ D R PEDLU6JV GEDLU6NFKYEJ6DNFK PEDLUEOVQV GEDLUSOVH7LUROYEJEORVD D!RLQ2g6!6I Q!X6 KHIWHQ H KHIWHQ H PEDLUKHIGQV GEDLUKHIWHQYEJKHIWD 'LSKWKRQJHI UžH6I I HHH OHFNHQ.OHH ž OžFNHQ NO g ggd PEDLUOgNDV GEDLUOgNFNQYEJOgNFND PEDLU*OgV GEDLU.FKOgD VWUHQJH6FKHLGXQJYRQHXQGž 6 PKGHU!LD6 LLH VLW]HQ L VLW]HQ L PEDLUVLWVVQV GEDLUVLWVVH:HVWWLUROYEJVLWVVD LO6IL!LH 9EJ 6LYRUQ!H6 RRR 6FKREHU %URW R VFKREHU EU W R gg XD PEDLU6FKRZDV GEDLU6FKREHUYEJ6FKREU PEDLU%UG1g%UgG%UgG%UXG2g V GEDLU3UDG 'LSKWKRQJI UR6 RU!XD6 RU!DU6 6RGLHYHUEUHLWHWHVWH$XVVSUDFKH 0KGžZLUGLQGHQ0XQGDUWHQLQYLHOHQ: UWHUQDOVHJHVSURFKHQ 6 GEDLU&KDUDNWHULVWLNXP LHLVWLQGHU6FKULIWVSUDFKHLQYLHOHQ: UWHUQQXU'HKQXQJV]HLFKHQ 'LHVHU/DXWLVWLQGHQ0XQGDUWHQVHOWHQZHVHQWOLFKHQ9HUlQGHUXQJHQXQWHUZRUIHQ 'LHVHU/DXWLVWLQGHQ0XQGDUWHQVHOWHQZHVHQWOLFKHQ9HUlQGHUXQJHQXQWHUZRUIHQ 6 GEDLU&KDUDNWHULVWLNXP

21 (LQOHLWXQJ (LQOHLWXQJ 6FKULIWVSUDFKH 0LWWHOKRFKGHXWVFK 0GDO(QWVSUHFKXQJHQDXVGHP0EDLU6 GEDLUXQG9EJ %HVRQGHUKHLWHQ X SXW]HQ JXW X XR SXW]HQ JXRW X XDXLXH PEDLUEXWVVQV GEDLUSXWVVH:HVWWLUROYEJEXWVVD PEDLUJXDGJXLG1gV GEDLUJXDWJXHWYEJJXDW XYRUQ! 6 XU!RHU9EJ6 XPKGXR!DYRUPQ6 DX JODXEHQ +DXV RX JORXEHQ K V DXD RX DX% PEDLUJODX E PV GEDLUJODEPYEJJORXED PEDLUV GEDLU+DXVYEJ+%V PKGRX!DZDUHLQPDO/DXWJH VHW]LP0EDLUXQG6 GEDLU HX KHXHU +HX LX X KLXUH K XZH HRRHXL DL DL D PEDLUKHRUKRHD2gV GEDLUKXLUHLQ7HLOHQYRQ 7LUROKDLDPRGHUQH)RUPYEJK U PEDLUV GEDLU+DLYEJ+ HX!D6 +LQ7HLOHQ6EJVXQG7LUROV HLDL :HLGH ZHLW HL ZHLGH Z W DD DL PEDLU:DGV GEDLU:RDGH7LURO PEDLUZDLGV GEDLUZDLWYEJZW6 DOWHVgVWDWWD6 DLQ:LHQ.lUQWHQ6 LQ9EJ6 LH LD VFKLH HQ LH VFKLH5HQ XLHRRH PEDLUVFKXLVVQ%JOGVFKHRVVQVFKRHVVQ2g VFKLDVVQM QJHUHVFKRQZHLWYHUEUHLWHWH/DXWXQJ V GEDLUVFKLDVVHQ7LUROVFKLDVQ.lUQWHQ LQPDQFKHQ: UWHUQJLOWQXULDLH I UPKGLH 1lFKWH LFKZlUH Q KWH LFKZ UH Dg Dg PEDLU1DFKGV GEDLU1DFKWYEJ1gFKWH PEDLULZDV GEDLUZDUYEJZgUH ²6FKHUHOHHU+HHULQJ KDEHQ PKG GDKHULQGHU0GDD % FNH E VH v E FNH EvVH H g gd PEDLU%HNV GEDLU3HFN PEDLUEgVV GEDLUSgDV 'LHVHU/DXWLVWLQGHQ0XQGDUWHQVHOWHQZHVHQWOLFKHQ9HUlQGHUXQJHQXQWHUZRUIHQ $XFKGDV0EDLUNHQQWLQYLHOHQ: UWHUQQRFKDI UDXLPPHULQ²%DXP7UDXP6DXP XDPDOVRYRUP (QWUXQGXQJ (QWUXQGXQJ 'LHVHVLHKDEHQXQWHUDQGHUHP=HLWZ UWHUGHV7\SXV²VLHGHQNOLHEHQELHJHQ (LQLJH: UWHUGHU6FKULIWVSUDFKH]%².lIHU6FKlGHO+lKHU KDEHQ ZRPKGžYRUOLHJWGDKHULQGHQ0XQGDUWHQNHLQKHOOHUD/DXW (QWUXQGXQJ

22 (LQOHLWXQJ (LQOHLWXQJ 6FKULIWVSUDFKH 0LWWHOKRFKGHXWVFK 0GDO(QWVSUHFKXQJHQDXVGHP0EDLU6 GEDLUXQG9EJ %HVRQGHUKHLWHQ + WWH K WHQ H K WWH K HWHQ L PEDLU+LWQV GEDLU+LWWH+LWWQ LD PEDLUKLDWQV GEDLUKLDWH7LURO X +lxvhu ¼ LX ¼ KLXVHU ¼ DL VLHKHXQWHUHX PEDLU+DLVDV GEDLU+DLVHUYEJ+ VHU,QGHQ0XQGDUWHQLVWGHU8PODXWX! YLHOIDFKQLFKWYRUKDQGHQYJO3UXNNH%UXFN%U FNHGVUXFN]XU FN (QWUXQGXQJ (QWUXQGXQJ

23 :LHQ :LHQ 'DV:LHQHULVFKHDOV0XQGDUWXQG9HUNHKUVVSUDFKH,QGHU'DUVWHOOXQJGHU VWHUUHLFKLVFKHQ0XQGDUWHQGDV:LHQHULVFKHDQGHQ$QIDQJ ]XVWHOOHQKDWVHLQHQEHUHFKWLJWHQ*UXQG'HQQZLHZRKOVLFKGDV:LHQHULVFKHVFKRQ UHFKWZHLWYRQHLQHUHFKWHQ0XQGDUWLP6LQQHHLQHV'RUIGLDOHNWHVHQWIHUQWKDWVWH KHQGLH/DQGPXQGDUWHQLQGHQDQGHUHQ%XQGHVOlQGHUQEHUHLWVZHLWKLQVRXQWHUGHP (LQIOXVV GHU :LHQHU 8PJDQJVVSUDFKH GDVV HV YRUWHLOKDIW HUVFKHLQW VLFK ]XQlFKVW GHQ VSUDFKOLFKHQ 9HUKlOWQLVVHQ LQ :LHQ ]X]XZHQGHQ +LHU LVW QlPOLFK GHU $XV JDQJVSXQNWVWlQGLJHUXQGXQDXIKDOWVDPHU6SUDFKHUQHXHUXQJHQZLHVLHDXIGLH EUL JHQ 0XQGDUWHQ PHKU RGHU ZHQLJHU HLQZLUNHQ 'DEHL LVW ]XQlFKVW DQ GDV 1LHGHU VWHUUHLFKLVFKHXP:LHQXQGLQHLQHPEUHLWHQ*HELHWYRUDOOHPV GOLFKGHU'RQDX QDFK :HVWHQ ]X GHQNHQ ZR GXUFK GHQ GDXHUQGHQ :LHQHU (LQIOXVV EHUHLWV HLQ 6FKZLQGHQ DOWHU /DXWXQJHQ XQG )RUPHQ XQG GDPLW HLQ $XIO VXQJVSUR]HVV GHU JH VDPWHQPXQGDUWOLFKHQ6WUXNWXUIHVW]XVWHOOHQLVW 8QWHU GHP (LQIOXVV :LHQV GXUFK +DQGHO XQG 9HUNHKU EHGLQJW VWHKHQ DXFK GLH 3URYLQ]VWlGWHYRUDQGLH/DQGHVKDXSWVWlGWH1XULQ,QQVEUXFNGHU+DXSWVWDGWGHV DPNRQVHUYDWLYVWHQVSUHFKHQGHQ%XQGHVODQGHVKDWVLFKQRFKHLQHUHFKWDOWHUW POL FKH6WDGWPXQGDUWHUKDOWHQ 'DV:LHQHULVFKHVWDQGQDW UOLFKGHP 1LHGHU VWHUUHLFKLVFKHQ HLQPDO YLHO QlKHU DOV KHXWH0LWGHU:LHQHU9RONVPXQGDUWLVWGDV$OWZLHQHULVFKHJHPHLQWGDVLQVHLQHU XQYHUIlOVFKWHQ$UWVFKRQVHKUVHOWHQJHZRUGHQLVW'LH*UHQ]HVHLQHV*HOWXQJVEH UHLFKHVLVWHWZDPLWGHP(QGHGHV(UVWHQ:HOWNULHJVDQ]XVHW]HQ'DQDFKZLUGELV HWZD]XP(QGHGHV=ZHLWHQ:HOWNULHJVYRP1HXZLHQHULVFKHQJHVSURFKHQGDVYRP -XQJZLHQHULVFKHQDEJHO VWZXUGH'LH6FKQHOOLJNHLWPLWGHUHLQDOWHU6SUDFK]XVWDQG YHUORUHQJLQJNRPPWHLQHPVRULFKWLJ]X%HZXVVWVHLQZHQQPDQHUIlKUWGDVVDP :LHQHU+RI]X0DULD7KHUHVLDV=HLWHQXQGQRFKVSlWHU0XQGDUWJHVSURFKHQZXUGH 'HU*HEUDXFK GHU 0XQGDUW JDOW GDPDOV HEHQ QRFK QLFKW DOV XQIHLQ GLH KRFKGHXW VFKH 6FKULIWVSUDFKH ZDU EHVRQGHUV LQ gvwhuuhlfk ZLH -RVHI :(,1+(%(5LQVHLQHU *HGLFKWVDPPOXQJ²:LHQZ UWOLFK EHNXQGHWQRFKQLFKW]XUYROOHQ$QZHQ GXQJJHODQJW )U KHUKDP.DLVHUXQG+HUUQVLQHWJVFKDPW ] UHGQZLDG JZ KQOLFKHQ/HXW,P/DXIHHLQHV-DKUKXQGHUWVDEHUKDWWHQVLFKGLH9HUKlOWQLVVHEHUHLWVPHUNOLFKJH lqghuwdov+ri$ghoxqg*ur E UJHUWXPLKUHDOW EHUNRPPHQH0XQGDUWDXI]XJH EHQEHJDQQHQXQGLKUH VWHUUHLFKLVFKH$EVWDPPXQJEDOGQXUQRFKGXUFKHLQHPHKU $XV -RVHI :(,1+(%(5 :LHQHULVFK,Q -: 6lPWOLFKH :HUNH KJ YRQ -RVHI 1DGOHU XQG +HGZLJ :HLQKHEHU%G6DO]EXUJ 6

24 :LHQ RGHUPLQGHUPXQGDUWOLFKJHIlUEWH$XVVSUDFKHGHV+RFKGHXWVFKHQYHUULHWHQ,QGHU )ROJHZXUGHQ]DKOUHLFKHYRONVW POLFKH$XVGU FNHDOVGHUERGHUYHUDOWHWHPSIXQGHQ XQG GDKHU GXUFK YHUPXQGDUWOLFKWH 6FKULIWZ UWHU HUVHW]W /HLFKWHU DOV LQ %DXHUQ PXQGDUWHQIDQGHQ)UHPGZ UWHU(LQJDQJWUDWHQ1HXVFK SIXQJHQXQG%HGHXWXQJV EHUWUDJXQJHQ GLH QLFKW LPPHU JO FNOLFK JHZlKOW ZDUHQ RIW DEHU UHFKW ]XWUHIIHQG HUVFKLHQHQ DQ GLH 6WHOOH DOWHU : UWHU -H QlKHU PDQ DEHU GHU *HJHQZDUW NRPPW XPVR PHKU LVW DXFK LQ NOHLQE UJHUOLFKHQ.UHLVHQ GDV 6FKZLQGHQ GHU DOWHQ 9RONV PXQGDUWIHVW]XVWHOOHQ,PPHUPHKUPDFKWGLH6FKULIWVSUDFKHLPWlJOLFKHQ8PJDQJ LKUHQ(LQIOXVVJHOWHQGXQGGUlQJWGLH0XQGDUWZHLWHU]XU FN,P.XOWXUXQG9HUNHKUV]HQWUXP:LHQKDWWHVLFKEHUHLWVIU KHLQH8PJDQJVVSUDFKH HQWZLFNHOWGLHDOV0LWWHOJOLHG]ZLVFKHQ+RFKVSUDFKHXQG0XQGDUWGLH+DXSWTXHOOH ELOGHWDXVGHUPXQGDUWIUHPGH: UWHUXQG/DXWXQJHQLQGLHOHW]WHUHHLQVWU PHQ(V GDUIQLFKW EHUVHKHQZHUGHQGDVVGLH8PJDQJVVSUDFKHMDDXVGHP%HVWUHEHQHQW VWDQGGLH0XQGDUWGHU+RFKVSUDFKHLUJHQGZLHDQ]XJOHLFKHQXQGEHLGHQ0XQGDUW VSUHFKHQGHQ VHLW MHKHU GLH LQQHUH %HUHLWVFKDIW JHJHEHQ LVW 0XQGDUWIUHPGHV DQ]X QHKPHQXQGDOWH6SUDFKIRUPHQDOVGHUERGHUDOO]XOlQGOLFKDE]XOHJHQ: UWHUGLH KHXWHRIWQXUQRFKDOWHQ%DXHUQPXQGDUWHQDOOHLQHLJHQVLQGZDUHQHLQPDODXFKLQ :LHQJDQJXQGJlEHXQGLQ5HVWHQQRFKLQM QJHUHU=HLW]XK UHQ $OWZLHQHULVFKHV:RUWJXW 'LHIROJHQGHNOHLQH$XVZDKOl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lFNVDUW LVW DXFK GDV :RUW I U GLH *VFKUDGH DXVJHVWRUEHQ 'LH *VFKUDGHZDUHLQH 6HPPHOPLWQXUHLQHU/lQJVNHUEHGDV:RUWJHK UW]XPKGVFKU W6FKQLWWXQGKDW IDOVFKHQ DQDORJLVFKHQ 8PODXW ZLH ZDWOQ²Z UWHOQ PLW:RUWHQVWUHLWHQ*UDQO ².U QHOHLQ DOWH 0 Q]H *HOG 'DV %HWW GDV GHU :LHQHU DXFK VFKHU]KDIW )OgGULFKDO )O KHWU KHOHLQ QHQQW KLH HEHQVR RIW DXFK 1LDVFKVFKO 'LHVHV LVW GLH 9HUNOHLQHUXQJVIRUP]X1XDVFK8DVFKPKGQXRVFKGHU%DXHUQPXQGDUWHQZRHV DOOHUGLQJVZLHXUVSU QJOLFKGHQ)XWWHUWURJEH]HLFKQHW$OVGHUEHV6FKLPSIZRUWZDU QRFK XP VLPJKgQJWD *OLQJVFKGULJ VLHEHQJHKHQNWHU *DOJHQVWULFN LQ *H EUDXFK GDKDWWHGDV:RUW²*DOJHQ QRFKHLQHJDQ]DQGHUH/DXWIRUPPLW:XFKHU ODXW]ZLVFKHQOXQGJHLQHP/DXWGHQHVKHXWHQXUQRFKLQNRQVHUYDWLYHQ%DXHUQ PXQGDUWHQ JLEW :LH LQ GLHVHQ NRQQWH PDQ IU KHU DXFK LQ :LHQ YHUHLQ]HOW I U

25 :LHQ ²)ULHGKRI QRFK )UDLGKRI PKG YU WKRI K UHQ ODXWJHVHW]OLFK ULFKWLJ ZXUGH ZH QLJVWHQVLQGHU0XQGDUW]XHL 'HU6FKDXPDXIGHP%LHUKHL WKHXWHPHLVWQRFK )DPPKGIHLP 9RQ HFKWHP DOWHP ²:LHQHU +DPXU ]HXJHQ GLH IROJHQGHQ ZLHQHULVFKHQ : R U W VFK SIXQJHQ GLHGHQHQVSlWHUHURGHUGHUOHW]WHQ-DKUHDQ2ULJLQDOLWlWQLFKW QDFKVWHKHQ 6R KLH GLH.QDFNZXUVW HLQPDO %H^PWQEUDGO %HDPWHQEUDWHQ HLQH. FKLQ.KXFKOUWVV. FKHQUDWWH,Q GHU 3HU FNHQ]HLW VFKHLQW 0 ZXDUP0HKO ZXUP I U )ULVHXU DXIJHNRPPHQ ]X VHLQ $XFK VRQVW PXVVWHQ VLFK GLH HKUVDPHQ +DQGZHUNHU YHUVFKLHGHQWOLFK hehuqdphq JHIDOOHQ ODVVHQ PDQ GHQNH HWZD DQ GHQ %OHFKVFKXDVGD%OHFKVFKXVWHUI UGHQ6SHQJOHURGHU/DLPKgQJVW/HLPKHQJVWI U GHQ7LVFKOHU$XIIlOOLJNHLWHQGHV. USHUEDXHVZDUHQYRUDOOHPLQ:LHQVHLWMH=LHO GHV6SRWWHV6RQDQQWHPDQHLQH]XGLFNH)UDXQLFKWQXUD%ODGHHLQH*HEOlKWH VRQGHUQHWZDDXFKHLQ0RVGKHIP0RVWKHIHQHLQHDOO]XJUR HXQGVFKODQNHGDJH JHQ )QVFKGQJDQ )DKQHQVWDQJH 'HU KRKH =\OLQGHUKXW KLH *OQGVEXWWQ *ODQ]EXWWHRGHU!QJVGUgDUQ$QJVWU KUH GHU6FKOHLHUDEHUZHLOHUDXIEHVVHUH +HUNXQIW KLQGHXWHWH *UgG WIgWVVQ.UHGLWIHW]HQ 9LHOH GHU HUZlKQWHQ $XVGU FNH DEHUVLQGEHUHLWVZLHGHUDXVJHVWRUEHQRGHULP$XVVWHUEHQEHJULIIHQ :LHQHU2UWVQDPHQ %HREDFKWHW PDQ GLH $XVVSUDFKH GHU 2UWVEH]HLFKQXQJHQ LQ XQG XP :LHQ VR IlOOW DXI GDVV GDV %HVWUHEHQ KHUUVFKW GLHVHQ HLQH EHVVHUH P JOLFKVW VFKULIWVSUDFKOLFKH /DXWXQJ]XJHEHQZlKUHQGNRQVHUYDWLYH%DXHUQPXQGDUWHQJHUDGHGLH2UWVQDPHQ RIW LQ lowhvwhu /DXWXQJ HUVFKHLQHQ ODVVHQ :LHQ VHOEVW KDW LP 0XQGH GHU PHLVWHQ LQGHPGHU1DPHZLHLQGHU+RFKVSUDFKHDXVJHVSURFKHQZLUGVHLQHQXUVSU QJOLFKHQ PXQGDUWOLFKHQ 1DPHQ :gdq IDVW VFKRQ HLQJHE W ZlKUHQG GLH HFKWH :LHQHU 0XQGDUWIRUPI UGLH'RQDX EHUKDXSWVFKRQYHUORUHQJHJDQJHQ]XVHLQVFKHLQW'DV DOW EHUOLHIHUWH ²'DQXYLXV 'DQXELXV ZLUG JHUP ]X ' QDYL DKGPKG ]X 7XR QRXXD 7XRQRXZHJHZDQGHOWXQGVROOWHQXQLP:LHQHULVFKHQZRPKGXRYRU1D VDOHQ]XKHOOHP DZLUGPLD GDQZLUWXQ< PKG WXRQ DOV 'DQD HUVFKHLQHQ 0DQ K UW MHGRFK EHUHLWV 'RQDX DOOHQIDOOV GLH YHUPXQGDUWOLFKWH /HVHIRUP 'QDX:HU VDJWHLJHQWOLFKQRFK'DQD"'HPVHOEHQ6FKLFNVDOHUOLHJHQRIWDXFKGLHDQGHUHQ2UWV 8UVSU QJO²9RUKRIHLQJHIULHGHWHV*UXQGVW FN <DKGIUWHQKHJHQVSlWHUDQ²)ULHGH DQJHJOLFKHQ WUXJHQ GLH NRQVHUYDWLY *HVLQQWHQ XP LKUH (LQVWHOOXQJ ]X GHPRQVWULHUHQ GHQ DOWKHUJHEUDFKWHQ U KUHQI UPLJHQ=\OLQGHUZlKUHQGGLH$XIVWlQGLVFKHQGXUFK6FKODSSKXWJHNHQQ]HLFKQHWZDUHQ'LHVH EH]HLFKQHWHQ GLH.RSIWUDFKW GHU lqjvwolfkhq.rqvhuydwlyhq VSRWWHQG DOV ²$QJVWU KUHQ 0DULD *: UWHUEXFKGHU:LHQHU0XQGDUW:LHQ6 0KG:LHQQHPLWPGDO(QWZLFNOXQJYRQPKGLHYRU1DVDO]XgDXQGYROOHU(UKDOWXQJGHVQ/DXWHV GHUYHUGRSSHOW ZDU QDFK GHP JOHLFKQDPLJHQ:LHQIOXVV EHQDQQWDXI HLQ NHOWLVFKHV 9 GXQLD²:DOG EDFK ]XU FNJHKHQGGDV]XDKG: QQLDZXUGHHEG6,QGHQ/DQGPXQGDUWHQODXWHW'RQDXODXWJHVHW]OLFK'DQD

26 :LHQ EH]HLFKQXQJHQLQXQGXP:LHQYRUDOOHPGLHDOWHQLQJXQGGRUI1DPHQGLHHLQVW VHOEVWlQGLJH*HPHLQGHQEH]HLFKQHWHQZHOFKHKHXWHOlQJVW7HLOYRQ:LHQVLQG,P PHUVHOWHQHUWUHWHQVLHLQPXQGDUWOLFKHU/DXWXQJDXIPHKURGHUZHQLJHUYHUPXQG DUWOLFKWH /HVHIRUPHQ ZHUGHQ DQ GHUHQ 6WHOOH JHEUDXFKW ZHQQ VLH QLFKW EHUKDXSW VFKRQ VRIHUQ VLH DXFK %H]LUNVQDPHQ VLQG GHU %H]LUNVQXPPHU JHZLFKHQ VLQG 'geolqj ' EOLQJ RGHU :DULQJ :lkulqj NDQQ PDQ HWZD QXU QRFK VHOWHQ K UHQ $XFK+LDGOGXDI+ WWHOGRUILVWNDXPQRFKLQ*HEUDXFKOlQJVWLVWGDVGHU/HVHIRUP HQWVSUHFKHQGH+LWOGXDIGLHKHUUVFKHQGH)RUPJHZRUGHQ0LW²+ WWHOGRUI LVW EUL JHQVHLQOHKUUHLFKHV%HLVSLHOGDI UJHJHEHQZLHGLHGHU/HVHIRUPIROJHQGH$XVVSUD FKHEHLGHU)UDJHQDFKGHU+HUNXQIWGHV2UWVQDPHQVDXIHLQHIDOVFKH)lKUWHI KUHQ NDQQ6RN QQWHPDQDXIJUXQGGHUKHXWLJHQ$XVVSUDFKH+LWOGXDILQGHUXUVSU QJOL FKHQ%HGHXWXQJHLQDXVNOHLQHQ²+ WWHOQ EHVWHKHQGHV'RUIYHUPXWHQ:HQQPDQ QXQDEHUGLHDOWH/DXWXQJ+LDGOGXDINHQQWN QQWHPDQDQGHUHUVHLWVGHQ2UWVQDPHQ PLW HLQHP NOHLQHQ +XW LQ =XVDPPHQKDQJ EULQJHQ ZDV ODXWOLFK P JOLFK ZlUH GD ²+XW PKGKXRWODXWHWHXQGGLH9HUNOHLQHUXQJVIRUPKHXWH+LDGOODXWHQPXVV VR ZLHHWZDYRQJXDGPKGJXRWGDVPXQGDUWOLFKH*LDGONOHLQHV%DXHUQJXWDEJHOHL WHWZLUG'LHULFKWLJH%HGHXWXQJDEHUZLHLPPHUEHLGHU2UWVQDPHQGHXWXQJHUJH EHQGLHXUNXQGOLFKHQ%HOHJHXQGGLHPXQGDUWOLFKH$XVVSUDFKH8QGVROLHJWZLHLQ GHQYLHOHQDQGHUHQGRUI1DPHQLP5DXP:LHQDXFKLP)DOOH+ WWHOGRUIHLQDOWHU 3HUVRQHQQDPH YRU QlPOLFK 8HWHOHDXVlOWHUHP8RWLOR + WWHOGRUI LVW GHPQDFK GDV 'RUI GHV 8HWHOH ZDV GHXWOLFK LQ GHU XUNXQGOLFKHQ 6FKUHLEXQJ 8HWHOQGRUI ]XWDJH WULWW :HU DEHU PLW GHP DQODXWHQGHQ K LQ GLHVHP 2UWVQDPHQ QLFKWV DQ]XIDQJHQ ZHL HULQQHUHVLFKGDUDQGDVVHWZDGDVPXQGDUWOLFKH:RUWI U²MHW]W VWDWWLDWVVW DXFK KLDWVVW ODXWHQ NDQQ PLW HLQHP VSUDFKJHVFKLFKWOLFK Y OOLJ XQEHJU QGHWHQ K9RUVFKODJ =XGHQ2UWVEH]HLFKQXQJHQGLHQRFKDXVVFKOLH OLFKLQGHUULFKWLJHQPXQGDUWOLFKHQ /DXWXQJDXIWUHWHQJHK UWGHU3UDWHUPGDO%UGDGHVVHQ1DPHIlOVFKOLFKRIWYRQ VSDQLVFKSUDGR:LHVHDEJHOHLWHWZXUGH+LHUMHGRFKOLHJWHLQUHLQGHXWVFKHV:RUW YRUXQGREHQGUHLQHLQHUHFKWDOWHHLQKHLPLVFKH$UWYRQ)OXUQDPHQEH]HLFKQXQJ$OV GHXWVFKHV:RUWLVW²3UDWHU E]Z²%UDWHU VRQVWGLH%H]HLFKQXQJHLQHV0HQVFKHQ GHUEUlW RGHUHLQHV*HJHQVWDQGHVPLWGHPPDQEUlWLPOHW]WHUHQ)DOOHDOVRHLQHV %UDWVSLH HVRGHU%UDWHQZHQGHUV'LH6FKUHLEXQJPLWERGHUSLVWEHLGHQ1DPHQDXI VWHUUHLFKLVFKHP*HELHWQLFKWUHOHYDQWZDVHWZDGHU213LFKOGHU²% KHO EHGHX WHWEH]HXJW'DVVHVVLFKEHLGHU%H]HLFKQXQJGHV:LHQHU3UDWHUVWDWVlFKOLFKXPGLH %HGHXWXQJ²%UDWVSLH KDQGHOWZLUGVRIRUWNODUZHQQHLQHPEHNDQQWLVWGDVV)OX UHQZHQQLKUH)RUPGD]X$QODVVJLEWKlXILJQDFKVSLW]]XODXIHQGHQ*HJHQVWlQGHQ EHQDQQW ZHUGHQ 6R KHL HQ GLH VSLW] ]XODXIHQGHQ bfnhu LQ GHQ /DQGPXQGDUWHQ *gduq*guqzrulqvlfkpkgj UHNHLOI UPLJHV6W FNGLHVFKZDFKH1HEHQIRUP]X (OLVDEHWK 6&+867(5 'LH (W\PRORJLH GHU QLHGHU VWHUUHLFKLVFKHQ 2UWVQDPHQ OHJW HLQHQ 31 8RWR]XJUXQGHGHVVHQXPJHODXWHWHU*HQLWLYPLWXQRUJDQK$QODXWGLH)RUP+ HWHOGRUIHUJLEW 9JO²0DURQLEUDWHU IU KHU².HVWHQEUDWHU.DVWDQLHQEUDWHU<PKGNHVWH.DVWDQLH

27 :LHQ J U6SLH HUKDOWHQKDW1LFKWVHOWHQLVWDOV)OXUQDPHLQ2EHU VWHUUHLFK%IQDVFKG 3IDQQHQVWLHO]XK UHQbKQOLFKH%HLVSLHOHVLQGLQJUR HU=DKO EHUOLHIHUW =XU6SUDFKVR]LRORJLH %HYRUQXQGLHHLQ]HOQHQ(UVFKHLQXQJHQHU UWHUWZHUGHQGLHDOVGLHDOOJHPHLQJ O WLJVWHQI UGDV:LHQHULVFKHEH]HLFKQHWZHUGHQN QQHQLVW]XGHQ6SUDFKYHUKlOWQLV VHQ LQ :LHQ QRFK )ROJHQGHV ]X VDJHQ 'LH PDQQLJIDOWLJH VR]LDOH 6FKLFKWXQJ HLQHU 0LOOLRQHQVWDGWEULQJWLP/DXIHGHU=HLWDXFKHLQ1HEHQHLQDQGHUYRQ6SUDFK]XVWlQ GHQ PLW VLFK ZREHL HLQPDO GLH 9HUNHKUVVSUDFKH HLQPDO GLH DOWH HLQKHLPLVFKH 0XQGDUWPHKULQGHQ9RUGHUJUXQGJHU FNWZLUG*DQ]DQGHUVLVWHVXPGLH0XQGDUW HLQHV'RUIHVEHVWHOOW'LHZHQLJHQVR]LDOK KHUVWHKHQGHQ%HZRKQHUZLH$U]WRGHU /HKUHUP JHQPLWLKUHP6SUDFKJHEUDXFK]ZDUHLQ]HOQH3HUVRQHQEHHLQIOXVVHQZHU GHQ DEHU QLH GLH 0XQGDUW HLQHV 'RUIHV DXIIlOOLJ XP]XIRUPHQ LPVWDQGH VHLQ ZDV DXFKJDUQLFKWLQLKUHU$EVLFKWJHOHJHQLVW%DXHUQNOHLQH+DQGZHUNHUXQGKHLPL VFKH $UEHLWHU EHGLHQHQ VLFK LP 'RUI GHU ]LHPOLFK HLQKHLWOLFKHQ 0XQGDUW PLW GHU 6SUDFKHGHUbOWHVWHQDEHULVW EHUGLHVRIWQRFKHLQEHVRQGHUVDOWHUW POLFKHU6SUDFK ]XVWDQG GHU KHLPLVFKHQ 9RONVPXQGDUW YRUKDQGHQ VRGDVV 0XQGDUW DXI GHP /DQG KHXWHWDWVlFKOLFKQRFKZHLWJHKHQGJHVSURFKHQZLUG,Q:LHQGDJHJHQLVW]ZDU$OWHV DXV GHU HFKWHQ 9RONVPXQGDUW QRFK ]X K UHQ GLH 7UlJHU GLHVHV DOWHQ 6SUDFKJXWHV VLQGDEHUQXUQRFKYHUHLQ]HOWDQ]XWUHIIHQXQGZLUNHQDXIGHQ IIHQWOLFKHQ6SUDFKJH EUDXFKQLFKWPHKUHLQ'DVHLQHRGHUDQGHUHDOWH:RUWOlVVWVLFKQRFKHUIUDJHQHV OHEWDEHUPHLVWQXUQRFKLQGHU(ULQQHUXQJGHU$XVNXQIWVSHUVRQHQ:DVLP)ROJHQ GHQ DQ ZLHQHULVFKHQ (LJHQW POLFKNHLWHQ DQJHI KUW ZLUG LVW DOVR QXU QRFK EHGLQJW OHEHQGLJHV:RUWJXWZHQQJOHLFKHVVLFKKLHUXPGLHLQGHQNOHLQE UJHUOLFKHQ6FKLFK WHQDPPHLVWHQDOOJHPHLQJ OWLJHQ0HUNPDOHKDQGHOW,QZLHKRKHP0D HEHUHLWV GHU (LQIOXVV GHU DOOJHPHLQHQ 8PJDQJVVSUDFKH XQG VFKULIWVSUDFKOLFKHU (OHPHQWH DXFKDXIGHQ6SUDFKJHEUDXFKGHUXQWHUHQ6FKLFKWHQPHUNEDULVWZLUGGHUIROJHQGH 6WUHLI]XJGXUFKGDVMHW]WDPKlXILJVWHQ]XK UHQGH:LHQHULVFK]HLJHQ(VZLUGGDEHL YRQ1XW]HQVHLQDXFKGLH/DQGPXQGDUWHQKHUDQ]X]LHKHQ $OOJHPHLQH0HUNPDOH :LH VRQVW LP 0LWWHOEDLULVFKHQ VLQG GLH 0 L W O D X W H LQ GHU HLQJDQJV EHVFKULHEHQHQ :HLVHJHVFKZlFKW'FK7DJ%HFK3HFK:HGD:HWWHU,QGHU%HKDQGOXQJYRQ DXVODXWHQGHP J YHUIXKU GDV :LHQHULVFKH lkqolfk ZLH GLH QLHGHU VWHUUHLFKLVFKHQ %DXHUQPXQGDUWHQ YRQ GHQHQ GLH DOWHUW POLFKHQ GLHVHV EHUKDXSW QLFKW VSUHFKHQ 9JOGD]X5XGROI08&+'LH1DPHQLP:HLFKELOGH:LHQVXQGLKUH(QWVWHKXQJ:LHQ

28 :LHQ 6RKHL WHVLP*HELHWGHUXL0XQGDUWHQ*UXL.UXJ'7DJ:H:HJ,QM Q JHUHU=HLWMHGRFKZXUGHGDVIHKOHQGHJGXUFKFKHUVHW]WVRGDVVLQ:LHQZLH EHU KDXSWLP2VWHQXQG1RUGHQgVWHUUHLFKV*UXDFKI U².UXJ 'FKI U²7DJ :HFK I U²:HJ JHVDJWZLUGZDVDEHUKHXWHQXUQRFKVHOWHQ]XK UHQLVW'DVFKNDQQ DOOHUGLQJVYRUDOOHPLPUDVFKHQ5HGHIOXVVDXFK]XKJHVFKZlFKWVHLQ'DVL,QDVK ²'DVVLFK,KQHQVDJH ZDVLFKQRFKVDJHQZLOO'DVVLP$XVODXWDXFKLQGHU:RUW ]XVDPPHQVHW]XQJ LQ XQG XP :LHQ J HLQPDO Y OOLJ IHKOWH EH]HXJW XQWHU DQGHUHP GHU1DPH².ULHDX PGDO*ULDDXGHUQLFKWVDQGHUHVDOV².ULHJDX EHGHXWHWXQG HLQH DOWH PXQGDUWOLFKH $XVVSUDFKH IHVWKlOW (V KDQGHOW VLFK ZLH EHL ²6WUHLWZLHVHQ XPHLQ*UXQGVW FNXPGDVHLQPDOHLQ.OHLQNULHJJHI KUWZXUGH,QGHU1DFKVLOEH LJIHKOWJKHXWHIDVWLQDOOHQPLWWHOEDLULVFKHQ0XQGDUWHQE OLELOOLJK XOLKHLOLJ 'DV:LHQHULVFKHI KUWDOV²EHVVHUH 0XQGDUWDXFKKLHURIWFKHLQXQGVRKHL WHV V OLFKI U²VHOLJ GDVLFKI U²NOHLQODXW <PKGG±VLFVWLOOLQVLFKJHNHKUWIODPLFK I U ²IODXPLJ (EHQVR JLEW GDV :LHQHULVFKH LQ GHP %HVWUHEHQ $OWPXQGDUWOLFKHV DXV]XWLOJHQ GHP :RUW ²7DJ LQ GHQ :RFKHQWDJQDPHQ GLH YROOH )RUP 0QGFK 0RQWDJ'LQVGFK'LHQVWDJ6XQGFKRGHU6XQWFK6RQQWDJ'LHDOWHQPLW WHOEDLULVFKHQ 0XQGDUWHQ ]HLJHQ ²7DJ LP 6FKZDFKWRQ PHLVW QXU DOV GD 0QGD 0RQWDJ6XQGD6RQQWDJ'LHDOWEDLULVFKHQDXVGHP2VWJHUPDQLVFKHQVWDPPHQ GHQ:RFKHQWDJQDPHQ,DGD,DWDDXV²(UJHWDJ I UGHQ'LHQVWDJXQG%ILQGVGD %ILQJVGD²3ILQ]WDJ I UGHQ'RQQHUVWDJVLQGQLFKWQXULQ:LHQVRQGHUQDXFKLQ ZHLWHQ7HLOHQ1LHGHU VWHUUHLFKVKHXWHVRJXWZLHDXVJHVWRUEHQ :RGDVKGHU6FKULIWVSUDFKHQLFKW'HKQXQJV]HLFKHQVRQGHUQVRJHQDQQWHVJHUPDQL VFKHVKLVWZLUGHVLQ:LHQPHLVWZLHFKEHKDQGHOWXQGHUVFKHLQWDOVVFKZDFKHUFK /DXW'VgFKQ=HKHVDLFKQVHLKHQODLFKQOHLKHQ6FKXDFK6FKXKUDXFKUDX URFK URK,Q DOWHUW POLFKHQ PLWWHOEDLULVFKHQ /DQGPXQGDUWHQ IHKOW HV ZLH FKRIW JlQ]OLFK 'VgD=HKHODLD OHLKHQ 6FKXD 6FKXK Ug 2g XQG U1gI U ²URK ²6HKHQ XQG²]LHKHQ QHKPHQDOVVgJQXQGGVLDJQHLQH6RQGHUVWHOOXQJHLQ $XIIlOOLJHU DOV GLH 0LWODXWH KHEHQ VLFK GLH 6 H O E V W O D X W H GHV KHXWLJHQ :LHQHUL VFKHQYRQGHQHQHFKWHU%DXHUQPXQGDUWHQDE9 OOLJDXVJHVWRUEHQVLQGQDW UOLFKGLH ElXHUOLFKHQRL RHOLHVJHVFKORVVHQHVRJHVFKORVVHQHVHDOV=ZLHODXWLQ: UWHUQ ZLH²VFKLH HQ RGHU²NOLHEHQ GLHLP:LHQHULVFKHQVFKLDVVQXQGJOLDEPODXWHQ(V WULWW KLHU GDV ²VWlGWLVFKHUH LD HLQ GDV DXFK LQ 1LHGHU VWHUUHLFK GDV DOWH RL LQ GLH HQWOHJHQHQ*HELHWH]XU FNJHGUlQJWKDWXQGDXFKGRUWILQGHWVLFKGLHVHVQXUQRFKLQ GHU0XQGDUWGHUlOWHUHQ0HQVFKHQ'RFKVHLHUZlKQWGDVVHVELVLQV1HXZLHQHUL VFKH KLQHLQ QRFK GDV :RUW *ZRLVO *HZLQVHO IU KHU DXFK QRFK.KRL I U ².LQQ <PKGNLXZHJDE ²(UJHWDJ <PKGHUWDFXUVSU QJO²7DJGHV.ULHJVJRWWHV$UHV XQG²3ILQ]WDJ <PKGSILQ]WDF]X DOWJULHFKSœPWH²GHUI QIWH>7DJ@ VLQGEDLULVFKH.HQQZ UWHUGLH EHUJRWLVFKH9HUPLWWOXQJLQV%DLUL VFKHJHODQJWVLQGLQLKUHQPGDO/DXWXQJHQ,DGD,DGFKJ,DULGbDGFKE]Z%ILQGVGD%ILQJV GD%ILQWVGFKGJVLQGVLHYHUHLQ]HOWQRFKLQ2VW VWHUUHLFK]XK UHQYJO6

29 :LHQ 'DVKHOOHDLQ: UWHUQPLWPKGHLRGHUXRYRUQPJLOWVFKRQVHLWODQJHPDOVHLQHV GHU DXIIlOOLJVWHQ 0HUNPDOH GHV :LHQHULVFKHQ 'HQ ElXHUOLFKHQ )RUPHQ EUDG EUHLWODGOHLG6FKGDQ6WHLQ0DP0XKPH<PKGPXRPHVWHKHQGLHZLH QHULVFKHQ DXI GHP /DQGH DOV ²IHLQHU JHOWHQGHQ EUDG ODG 6FKGDQ 0DPVRIHUQ EHUKDXSW QRFK LQ *HEUDXFK JHJHQ EHU 'LHVH :LHQHU %HVRQGHUKHLW KDW VHLW GHU ]ZHLWHQ+lOIWHGHV-DKUKXQGHUWVYRUDOOHPDXIGLH%DXHUQGHU8PJHEXQJJUR HQ (LQIOXVV$XFKLQGLH3URYLQ]VWlGWHLVWGDVKHOOHDGXUFK+DQGHOXQG9HUNHKUHLQJH GUXQJHQ 'HP!QJVFKZDEWQ GHP YRQ GHU 'RQDX ²$QJHVFKZHPPWHQ YJO PKG VZHLEHQ VFKZHPPHQ KDEHQ HV YRQ GHQ :LHQHU ²6SUDFKIHLQKHLWHQ QRFK LPPHU ]XQlFKVWGLHVHKHOOHQDDQJHWDQ]XGHUHQ*XQVWHQHUJHUQHDXIVHLQHKHLPDWOLFKHQ DYHU]LFKWHW'HU!QJVFKZDEGHLVWGHU²3URYLQ]OHU GHQGDV6FKLFNVDOI UVWlQGLJLQ GLH *UR VWDGW YHUVFKODJHQ KDW XQG GHQ GHU :LHQHU GDQQ IUHXQGOLFKHUZHLVH QLFKW PHKU]XGHQ*VFKgDGQ²*HVFKHUWHQ VFKOHFKWKLQ]lKOW :HLW YRP %RGHQ GHV 0XQGDUWOLFKHQ KDW VLFK GDV :LHQHULVFKH PLW VHLQHQ (QWVSUH FKXQJHQI UGLHR/DXWHHQWIHUQW9RUDOOHPI UPKG EHJHJQHWPDQLQGHQ/DQG PXQGDUWHQ VWOLFKGHU.UHPVHLQHPHLQIDFKHQRIIHQHQ/DXWZlKUHQGGLHZHVWOL FKHQ0XQGDUWHQLQ2EHU VWHUUHLFKLP,QQXQG0 KOYLHUWHOYHUHLQ]HOWQRFKUHFKW DXIIlOOLJH=ZLHODXWHDXIZHLVHQ%UgG%UgG%UXGI U²%URW,QGDV:LHQHULVFKH KLQJHJHQKDEHQOlQJVW JOHLFKJ OWLJREHVVLFKXPPKG RGHURKDQGHOW HLQKHLW OLFK GLH JHVFKORVVHQHQ R GHU 6FKULIWVSUDFKH (LQJDQJ JHIXQGHQ %URG%URWKRFK KRFK 2IP2IHQ0RVG 0RVW 1XU LQ GHU 6WHOOXQJ YRU Q DEHU LVW EHL lowhuhq 0XQGDUWVSUHFKHUQKlXILJQRFKGHURIIHQH/DXWQI UR]XK UHQ :QXQJ :RK QXQJ GDI^Q GDYRQ VFKQ VFKRQ DXFK IUHPGHV R ZXUGH VR EHKDQGHOW 5DL^Q M QJHU5DM Q5D\RQ'DVHLQVWVRDNWXHOOH²UD\RQLHUHQ MHGRFKVFKLHQQLFKWSRSX OlUJHQXJ]XVHLQXPDOVUDLQ DQY OOLJ²HLQJHZLHQHUW ]XZHUGHQ(VKHL WLPPHU QRFK²UD\RQLHUHQ 'LH /DXWJUXSSH RU ZLUG LP :LHQHULVFKHQ ]X XD IXDW IRUW GXDW GRUW PXDJQ PRUJHQ8DZDVFKVFKO²2KUZlVFKOHLQ 2KU 'DVKHXWLJHXGHU6FKULIWVSUDFKHLQ: UWHUQZLH²%UXGHU+XIJXW XVZPKGXR LVWZLHLQHLQHPJUR HQ7HLOGHU%DXHUQPXQGDUWHQDOVXDHUKDOWHQ%UXDGD +XDI JXDG ZHQQHVQLFKWYRUQ P VWHKW XQG GDKHU DOV D HUVFKHLQW ]%0DP 0XKPH <PKG PXRPH,P:RUW²0XWWHU DOOHUGLQJVZLUGGDV PGDO XD KHXWHIDVWLPPHU YHUPLHGHQHVLVWEHL$OWXQG-XQJIDVWQXUQRFK0XWD]XK UHQVRZLHDXFK²9DWHU KHXWHVHOWHQQRFKDOV)GDRGHU)WDEHJHJQHW%HLGH: UWHUQHKPHQDXFKLQGHQ %DXHUQPXQGDUWHQ HLQH 6RQGHUVWHOOXQJ HLQ /DXWJHVHW]OLFK LVW )GD 0XDGD'LHVH )RUPHQ ZHUGHQ DEHU DXFK LQ GHQ %DXHUQPXQGDUWHQ VFKRQ KlXILJ DOV GHUE MD GH VSHNWLHUOLFKHPSIXQGHQ6RZXUGHGHU6FKZDFKODXWGLQEHLGHQ: UWHUQ]XP6WDUN 9JOGD]X$QWRQ3)$/=$OWHUXQG+HUNXQIWGHVKHOOHQDI UPKGHLLQGHU:LHQHU0XQGDUW:LHQ 8UVSU QJOLFK LP Z UWOLFKHQ 6LQQH DOV GHU %DXHU LQ )HXGDO]HLWHQ LP 8QWHUVFKLHG ]XP *UXQGKHUUQ NHLQHODQJHQ+DDUHWUDJHQGXUIWH

30 :LHQ ODXWJHZDQGHOW)GD]X)WDXQG0XDGD]X0XDWDJOHLFKVDP²YHUIHLQHUW,P:LH QHULVFKHQVLQGDXFKGLH6HOEVWODXWHGHQKRFKVSUDFKOLFKHQ:RUWIRUPHQDQJHJOLFKHQ PDQVSULFKW)DWD0XWD 'LHD/DXWHLQDQGHUHQ: UWHUQVLQGZLHLQGHQ/DQGPXQGDUWHQGXUFKYHUWUHWHQ %G%DGGUJQ WUDJHQ ZD ZDKU 'DV (LQGULQJHQ GHV KHOOHQ D LQ GLH $XV VSUDFKHGHV:RUWHV²:DVVHU KLQJHJHQN QQWHVLFKDXVGHPHLQVWLJHQ5XIÃIULVFK :DVVDÁDXIGHQ%DKQK IHQHUNOlUHQ'DVLVWXPVRZDKUVFKHLQOLFKHUDOVPDQ:DVVD QXUVSULFKWZHQQHVVLFKXP:DVVHUDOV7ULQNZDVVHUKDQGHOW,Q%DXHUQPXQGDUWHQHUVFKHLQHQGLHH/DXWHGHU6FKULIWVSUDFKHLQ]ZHLHUOHL/DXWXQ JHQ LQGHP GLH DXI PKG H ]XU FNJHKHQGHQ DOV JHVFKORVVHQH GLH DXI PKG ž ]X U FNJHKHQGHQ]XP7HLOQRFKDOVRIIHQH/DXWHDXIWUHWHQ%HW%HWW<PKGEHWWHJH JHQ EHUEgWQEHWHQ<PKGEžWHQ$XFKGDV:LHQHULVFKHIROJWGLHVHU5HJHOGRFK YRU UZRLQGHQ/DQGPXQGDUWHQPKGH XQG ž VWUHQJ JHVFKLHGHQ ZHUGHQ LDUP 1gHUDP2gI U²HUEHQ PKGHUEHQ+gDWVV1g+gFKWVV2gI U²+HU] PKGKžU]H LVWLQ:LHQHLQKHLWOLFKIDVWQXUHLQRIIHQHU/DXWLP$QVFKOXVVDQGLH 9HUNHKUVVSUDFKH]XK UHQ(VKHL W*ZgD*HZHKU]XPKGJHZHUXQGHEHQVRZgD ZHU<PKGZžUPLWGHPVHOEHQRIIHQHQH/DXW,Q%DXHUQPXQGDUWHQGDJHJHQODX WHW²*HZHKU *ZLD*ZHD1gRGHU*ZHU2g²ZHU MHGRFKZgDRGHUZgXVZ (LQ LQ M QJHUHU =HLW HQWVWDQGHQHU /DXWZDQGHO ELOGHW HLQH GHU KHUYRUVWHFKHQGVWHQ (LJHQW POLFKNHLWHQ GHV 1HXZLHQHULVFKHQ GLH DEHU YRU DOOHP GHP :LHQHU VHOEVW QLFKWDXIIlOOW'LHPXQGDUWOLFKHQ=ZLHODXWHDXDLKRFKVSUDFKODXHLHX XZHU GHQLP6SUDFKJHEUDXFKGHV:LHQHUV]XHLQIDFKHQ6HOEVWODXWHQ) UGLHVH/DXWHZHU GHQ KLHU NHLQH HLJHQHQ 6FKULIW]HLFKHQ HLQJHI KUW HV VROO QXU GDUDXI DXIPHUNVDP JHPDFKWZHUGHQGDVVPDQI UDXHLQVHKUGXPSIHVJHUXQGHWHVDI UDLHLQVHKURI IHQHVZHLWYRUQHLP0XQGUDXPJHELOGHWHVHVSULFKW0DQDFKWHHLQPDODXIPHUNVDP DXIGLH$XVVSUDFKHGHU: UWHU²+DXV XQG²:HLE 9RUPLVWDXZLHLQGHQ/DQGPXQGDUWHQPHLVWQRFKD%DP%DXP'UDP7UDXP QLFKWDEHUYRUIZRI UPGDODPKGRXDXVGHU9HUNHKUVVSUDFKHDX EHUQRPPHQ ZLUGHVDOVRVWDWWHFKWPGDONKDIIDXQGODIIDKLHUNKDXIIPXQGODXIIPNDXIHQODX IHQKHL W 'HUU/DXWGHUHWZDLQGHQ0XQGDUWHQ2EHU VWHUUHLFKVMHQDFKVHLQHU6WHOOXQJLP :RUWRIWUHFKWHLJHQDUWLJHQWZLFNHOWLVWRGHUDOVVROFKHUIHKOWKDWVLFKLP:LHQHUL VFKHQLP$QODXWXQGLQODXWHQG]ZLVFKHQ6HOEVWODXWHQPHLVWDOV=XQJHQUHUKDOWHQ 5XDV5X 0DXUD0DXUHULVWDEHULQDOOHQ EULJHQ6WHOOXQJHQ]XDYRNDOLVLHUW ZRUGHQKgDKHUZgDZHUPLDPLUZLU*DWQ*DUWHQKgDUQK UHQXVZ (LQLJH : UWHU IDOOHQ LQ LKUHQ 6WDPPODXWHQ RGHU LQ LKUHU $EZDQGOXQJ XQWHU GHP (LQIOXVV GHU 6FKULIWVSUDFKH DXV LKUHU (QWZLFNOXQJ KHUDXV 'DEHL NRPPW HUVW UHFKW ZLHGHU ²8QIHLQHV YRU DOOHP DEHU ²8QVFK QHV ]XVWDQGH,Q GHQ VWHUUHLFKLVFKHQ (LQJHKHQG ZXUGH GLHVH (QWZLFNOXQJ YRQ (EHUKDUG.5$1=0$<(5 /DXWZDQGOXQJHQ XQG /DXWYHU VFKLHEXQJHQLPJHJHQZlUWLJHQ:LHQHULVFKHQXQWHUVXFKW

31 :LHQ 0XQGDUWHQZLUGI U GHU6FKULIWVSUDFKHGDVPHLVWGHPVRJHQDQQWHQ6HNXQGlUXP ODXWYRQDDOVRPKG HQWVSULFKWKHXWHKHOOHVDJHVSURFKHQZHOFKHVDOV0HUNPDO GHU0HKU]DKODXFKDQDORJLVFKVWHKHQNDQQ'DJ7DJHL ZDLFKZlUHJIDOLJH IlKUOLFK$VWObVWOHLQ'LHVHODXWJHVHW]OLFKHQDGHU0XQGDUWHQZHUGHQLQ:LHQLQ PDQFKHQ : UWHUQ DXIJHJHEHQ 6R HQWVWHKHQ :RUWIRUPHQ ZLH 'gfkdov3oxudo]x ²7DJ RGHUJgFKI U²MlK,P*UR HQXQG*DQ]HQDEHUVLQGGLHKHOOHQDI U QRFK HUKDOWHQLZDLFKZlUH.KDV.lVH (LQLJH =HLWZ UWHU QHKPHQ LQ LKUHU $ E Z D Q G O X Q J PHKU RGHU PLQGHU VFKULIW VSUDFKOLFKH )RUPHQ DQ,Q :LHQ ÃJVFKLDFKGÁ QLFKW VRQGHUQ HV ÃJVFKLFKGÁ DQ 8QJOLFNHVJHVFKLHKWHLQ8QJO FNGHU:LHQHUÃVLFKGÁZVZRGHU/DQGEHZRKQHU ZVÃVLDFKGÁHWZDVVLHKW'DV=HLWZRUW²WXQ P VVWHLQ:LHQGDQODXWHQZLHHLQ VSlWPKGZXRQH/RFKLP(LVPLWHUVWVSlWHUJHGHKQWHPXRDXVXKHXWHQRFKDOV :DQ (LQEXFKWXQJ HUVFKHLQW ZHQQ PDQ GDI U QLFKW OLHEHU 'gsvfkd ²7HSVFKHU JHEUDXFKW 'RFK K UW PDQ I U ²WXQ IDVW DXVVFKOLH OLFK GXDQ(UVWLP3OXUDOHU VFKHLQWGDV]XHUZDUWHQGHDPLDGDQHVGDWVVVLGDQZLUWXQLKUWXWVLHWXQ'D QHEHQ LVW I U GLH 3HUV 3O LQ $QOHKQXQJ DQ lowhuhv LD HV VDLWVV LKU VHLG M QJHU VDGVPDQFKPDOLDHVGDLWVVLKUWXW]XK UHQ,QGHQPLWWHOEDLULVFKHQ0XQGDUWHQLVWHLQIDFKHVQLP$XVODXWRGHUHQZHQQHVDXI 6HOEVWODXWIROJWYHUVWXPPWQXUQRFKLQGHU1DVDOLHUXQJGHVYRUKHUJHKHQGHQ9RNDOV LVW VHLQ HKHPDOLJHV 9RUKDQGHQVHLQ ]X HUNHQQHQ 'DV :LHQHULVFKH ZLOO PLW VHLQHP GXDQWXQGHU6FKULIWVSUDFKHQlKHUNRPPHQMDHVI KUWLQDOOHQ=HLWZ UWHUQGLHVHU $UWGDVQZLHGHUHLQXQGVRVWHKHQGHQOlQGOLFKHQ)RUPHQGDQJgQVFKGgQKDXQ WXQJHKHQVWHKHQKDXHQGLHZLHQHULVFKHQGXDQ KDXQXQGPDQFKPDOVRJDUJgQ VFKGgQPLWHUKDOWHQHPQXQGQLFKWQDVDOLHUWHP9RNDOJHJHQ EHU,QGHQ/DQGPXQG DUWHQLVWQQXUGDQQLP$XVODXWHUKDOWHQZHQQHVDXIQQ]XU FNJHKW6RKHL WHV HWZDLQ2EHU VWHUUHLFK,PXDGVGDQ,FKPXVVGDVWXQ<PKGWXRQDEHU,KQ I GVGDQ,FKKDEHYLHO]XWXQ<PKG]HWXRQQH(LQJXWHV%HLVSLHODEHUOLHIHUWGLH $XVVSUDFKHGHV1DPHQV:LHQVHOEVWGHUPXQGDUWOLFKPLWHUKDOWHQHPQ:gDQXQG QLFKW :gdqodxwhwzhlohudxi:lhqqh :LHQQL VR LP -K ]XU FNJHKW bkqolfk ZLUGDXFKEHLP.DVXVXQWHUVFKLHGHQPDQVDJWLP1RPLQDWLYNKDQ0HQGVFKNHLQ 0HQVFKLP$NNXVDWLYDEHU,KENKDQJVgJQ,FKKDEHNHLQHQJHVHKHQ'LH(QG VLOEHHQLVWLQ%DXHUQPXQGDUWHQDOVDRGHUQQDFK$QJOHLFKXQJDQGHQ6WDPPDOV P YRUKDQGHQ NKDIID NKDIIP NDXIHQ PFKDPDFKHQ:RFKD :RFKH2ID 2IHQ+LHUKHUJHK UHQDXFKPGDO6FKGgFNDZLHQHULVFK6FKGHFNQ6WRFNPGDO GUXFND ZLHQHULVFKGUXFNQ WURFNHQ < PKG WUXFNHQ 'DV :LHQHULVFKH YHU]LFKWHW DX HUQDFKQQUHQDUHQQHQ]XPHLVWDXIDDOVPXQGDUWOLFKHQ9HUWUHWHUI UHQVR GDVVHVLQ:LHQNKDXIIPPFKFKQ:RFKFKQ2IPXVZKHL W /lqgolfkhqhqgxqjvorvhq)ruphqzlh6fkguvv6wud H%UXFN%U FNHVWHKHQGLH ZLHQHULVFKHQ PLW YHUDOOJHPHLQHUQGHU hehuwudjxqj GHV HQDXIGHQ)DOO6LQJ JHJHQ EHU 6FKGUVVQ %UXFNQ,Q GHU %HXJXQJ GHU (LJHQVFKDIWVZ UWHU I KUWH GDV :LHQHULVFKH DOV ²JHKREHQHUH 0XQGDUW ZLHGHU H/DXWH HLQ GLH LQ HLQHP 7HLO GHU

32 :LHQ PLWWHOEDLULVFKHQ 0XQGDUWHQ ODXWJHVHW]OLFK IHKOHQ,Q :LHQ K UW PDQ GDEUDIH%XD GHUEUDYH%XEGHJXDGH+DXG ²GLH JXWH +DXW JXWP WLJH)UDXLQ GHQ /DQG PXQGDUWHQDEHU]XPLQGHVWIU KHUGDEUDI%XDGHJXDG+DXG'RFKVLQGPLWWOHU ZHLOHMHQH)RUPHQPLWHDXFKLQ1LHGHU VWHUUHLFKVFKRQJDQJXQGJlEH 'HUG/DXWLQGHU3HUV3ODXIPKGW]XU FNJHKHQGVHVFKGgQGVFKGgQJDQGVLH VWHKHQ<PKGVW QWLVWLQHFKWHQ%DXHUQPXQGDUWHQLPPHUYRUKDQGHQ'DV:LHQH ULVFKHKDWLKQDOVGHUEXQGYHUDOWHWVFKOLH OLFKDXFKZHLOGLH6FKULIWVSUDFKHNHLQHQ $QODVV]XVHLQHU(UKDOWXQJELHWHWVFKRQOlQJVWDXIJHJHEHQVHJgQJDQVLHJHKHQVH OVVQ VLH ODVVHQ VH KP VLH KDEHQ 'LH HFKW PXQGDUWOLFKHQ )RUPHQ ODXWHQ VH JgQGVHOVVQGVHKPG (LQIOXVVGHV+RFKGHXWVFKHQ]HLJWVLFKDXFKLQGHU0 JOLFKNHLWVIRUPGHU=HLWZ UWHU ²JHKHQ XQG²VWHKHQ =ZDULVWGLHVFKZDFKHPXQGDUWOLFKH(QGXQJDGYRUKDQGHQ GRFKZLUGQLFKWVHOWHQGHU6WDPPVHOEVWODXWDXVGHU6FKULIWVSUDFKHEH]RJHQ6RHQW VWHKWGLH.RPSURPLVVIRUPLJLQJDGHFKWPGDOLJDQJDGLFKJLQJH'LHVHV²IHLQHUH L ZLUG QXQ DEHU Y OOLJ XQEHUHFKWLJW DXFK RIW LP =HLWZRUW ²VWHKHQ HLQJHI KUW LVFKGLQJDG LFK VW QGH LVW GDQQ GDV Y OOLJ PLVVOXQJHQH 3URGXNW YRQ ²6SUDFKYHU IHLQHUXQJ GHU:LHQHU8PJDQJVVSUDFKH'LH%HLVSLHOH]HLJHQGDVVHVGHP²VSUDFK YHUEHVVHUQGHQ %HVWUHEHQ ]XQlFKVW GDUDXI DQNRPPW GHQ 6HOEVWODXW DOV GHQ DXI IlOOLJVWHQZHLOVFKDOOVWlUNVWHQ%HVWDQGWHLOGHV:RUWHVGXUFKGHQVFKULIWVSUDFKOLFKHQ ]XHUVHW]HQ 1LFKW GHU 0XQGDUW HQWVSUHFKHQG XQG EHUKDXSW QLFKW EDLULVFK VWHUUHLFKLVFK VLQG GLH LQ GHU ²JHKREHQHUHQ :LHQHU 8PJDQJVVSUDFKH JHEUlXFKOLFKHQ )RUPHQ I U ²KHUHLQKHUDXVKHUDXIKHUXQWHUKHU EHU GLHUDLQUDXVUDXIUXQWDU ZDODXWHQ ZlKUHQGGLHDOWPXQGDUWOLFKHQ(QWVSUHFKXQJHQDLQDDXVVDDXIIDZDXPDVLQG 'DV U FNEH] JOLFKH ) UZRUW ²VLFK JHEUDXFKW GHU :LHQHU DXFK I U GLH 0HKU]DKO ²XQV ]%+DLGKPDVLFKJXDGXQWDKLGQ+HXWHKDEHQZLUXQVJXWXQWHUKDOWHQ (VYHUWULWWKLHUGHQDOWHQ)DOODKGXQVLKGRFKHUEOLFNWPDQGDULQDXFKHLQHQVOD ZLVFKHQ(LQIOXVV (LJHQDUWLJ PXWHW GHQ 1LFKWZLHQHU QLFKW DEHU GHQ.ODJHQIXUWHU GLH 6WHOOXQJ GHU +LOIV]HLWZ UWHU²P VVHQ XQG²VROOHQ LP6DW]DQ'XKgGVGPLDVVQD0DGOZgDUQ ZDLVG ODZ X EOgDVG 'X KlWWHVW HLQ 0lGFKHQ ZHUGHQ P VVHQ ZHLO GX LPPHU ZHLQVWVDJWPDQWDGHOQG]XHLQHPZHLQHUOLFKHQ.QDEHQbDKgGVFKQJHVGDQVRLOQ NKXPD (U KlWWH VFKRQ JHVWHUQ NRPPHQ VROOHQ 'LHVH XQG YLHOH DQGHUH *HPHLQ VDPNHLWHQ GHV :LHQHULVFKHQ PLW GHU.ODJHQIXUWHU 6WDGWPXQGDUW VLQG ELVKHU QRFK QLFKWJHNOlUW 'LH0LWYHUJDQJHQKHLWGHV+LOIV]HLWZRUWHV²VHLQ LZDLFKZDUGHQHFKWHQ0XQG DUWHQY OOLJIUHPGLVWVFKRQKlXILJI UPGDOLELQJZHVQJZHVGLELJZHQ2g]X K UHQ+DLGZDULGVPLDGGVDQ)XDWJgQ+HXWHZDULFK]XP GH]XP)RUWJHKHQ 9JO0DULD+25181*: UWHUEXFKGHU:LHQHU0XQGDUW69RUZRUWYRQ+HLQ]'LHWHU3RKO

33 :LHQ 'HU:LHQHU-DUJRQ 'LHZHQLJHQ%HLVSLHOHPLWGHPRIWPDOLJHQ+LQZHLVDXIElXHUOLFKH0XQGDUWHQKDEHQ JH]HLJW ZLH ZHLW GDV KHXWLJH :LHQHULVFK VLFK YRQ HLQHU OlQGOLFKHQ 9RONVPXQGDUW EHUHLWV HQWIHUQW KDW XQG ZLH VHKU 6FKULIW XQG 9HUNHKUVVSUDFKH YRU DOOHP LQ :LHQ LKUHQ(LQIOXVVJHOWHQGPDFKHQ 9RP6WDGWMDUJRQDEHUGHUZLHLQGHQPHLVWHQ*UR VWlGWHQDXFKLQ:LHQHLQ]LHP OLFKDXVJHSUlJWHV3URILO]HLJWLVWGLH:LHQHU0XQGDUWHEHQVREHGURKWZLHYRQGHU 6FKULIWVSUDFKH$XIVHLQHQ:RUWVFKDW]GHU]XP7HLOHLQHULQWHUQDWLRQDOHQ*DXQHU VSUDFKHZLHGHP5RWZHOVFKHQDEHUDXFKGHP-LGGLVFKHQHQWVWDPPWNDQQKLHUQLFKW QlKHUHLQJHJDQJHQZHUGHQGLHVH: UWHUXQG%LOGXQJHQVLQGDXFKPHLVWQLFKWFKD UDNWHULVWLVFK DOWZLHQHULVFK (V NRPPW DXFK JDU QLFKW VR VHKU DXI HLQ]HOQH 8QWHU VFKLHGH OH[LNDOLVFKHU RGHU ODXWOLFKHU $UW DQ GLH GHQ -DUJRQ LQ VFKDUIHQ *HJHQVDW] ]XU HFKWHQ 9RONVPXQGDUW VWHOOHQ VRQGHUQ YLHOPHKU DXI HLQH 9HUlQGHUXQJ GHV JH VDPWHQ 6SUDFKFKDUDNWHUV 'HQQRFK EHJLQQHQ PDQFKH LQ GLHVHP -DUJRQ PHKU XQG PHKUGDVHLJHQWOLFKH:LHQHULVFKH]XVHKHQ'HU-DUJRQLQGHVZLUNWLQVHLQHUDXIIlOOL JHQ*HGHKQWKHLWLQGHUXQQDW UOLFKHQ%HWRQXQJXQG+HUYRUKHEXQJGHU1HEHQVLO EHQ DEVWR HQG,Q GHU 6SUDFKH GHV ²3ODWWHQEUXGHUV NOLQJHQ GLH LQ :LHQ I U GLH VFKULIWVSUDFKOLFKHQ=ZLHODXWHHLHXDX XHLQWUHWHQGHQDQXQGI UVLFK QLFKWVHKU DQ]LHKHQGHQHLQIDFKHQ/DXWHEHVRQGHUVXQVFK Q,KUH$UWLNXODWLRQOLHJWZHLWHUYRU QH LP 0XQGUDXP LQ GHU 6WHOOXQJ YRU O NOLQJHQ VLH EHVRQGHUV XQDQJHQHKP 0DQ VWHOOHVLFKHWZDHLQlUJHUOLFKJHVSURFKHQHVJHGHKQWHV+gGV0 X+DOWHGDV0DXO YRURGHUGDVEHOLHEWH'gDLVGDUD:ÅXEOgG'HULVWGLU²HLQH:HLOH >VHKU@EO G (LQHDQGHUHODXWOLFKH0HUNZ UGLJNHLWGHV-DUJRQVLVWGLH$XVVSUDFKHGHVUGDVLQ :LHQ DX HULP$QODXWXQGLQODXWHQG]ZLVFKHQ6HOEVWODXWHQZRHVHUKDOWHQEOHLEW LQMHGHU6WHOOXQJ]XDYRNDOLVLHUWLVWZgDZHU+gDG+HUG*DWQ*DUWHQXVZ,P -DUJRQ LVW U QXQ QLFKW QXU LP $QODXW XQG LP,QODXW ]ZLVFKHQ 6HOEVWODXWHQ YLHO VWlUNHUJHUROOWVRQGHUQHVZLUGLQVWDUNJHUROOWHU)RUPDXFKGRUWRIWHLQJHI KUWZR GLH9RONVPXQGDUWVFKRQODQJHNHLQHVPHKUVSULFKWRGHUQLHHLQHVJHNDQQWKDW'LHV ]HLJW VLFK YRU DOOHP LP $IIHNW 5DXZDVEXDU OœQGLFKD 5DXEHUVEXE HOHQGLJHU *DXQDU IDUG³FKWgFKD *DXQHU YHUGlFKWLJHU RGHU LQ GHU %HWRQXQJ 'HV VDQ GDU VFKOgFKGH 'VDLGQ 'DV VLQG GLU VFKOHFKWH =HLWHQ 0LW GHU HLJHQWOLFKHQ :LHQHU 0XQGDUWKDWGLHVH6SUDFKDEDUWZHGHULQQHUHQ*HKDOWQRFKGLHW\SLVFKH.ODQJIDUEH JHPHLQVDP 'DVKHXWLJH:LHQHULVFKVREXQWHVDXFKVFKRQJHDUWHWVHLQPDJLVWGRFKHLQHVHKU EHUVFKDXEDUH6WDGWPXQGDUW'DV1HEHQHLQDQGHUYRQlOWHVWHQ$XVGU FNHQXQGRIW JDQ] EHUUDVFKHQGHQ1HXHUXQJHQLQGHU:RUWIRUPOlVVW(LQEOLFNLQGDV9HUKlOWQLV 9JOGD]X-RKDQQ6&+,.2/$6FKULIWGHXWVFKXQG:LHQHULVFK:LHQXQG0DULD+25181*'HU :RUWVFKDW]:LHQV VHLQH9LHOVFKLFKWLJNHLWVHLQH*UHQ]HQ:LHQ

34 :LHQ YRQ 9RONVPXQGDUW 9HUNHKUVVSUDFKH XQG 6FKULIWVSUDFKH JHZLQQHQ ZREHL GLH 0XQGDUWLQGHU0LOOLRQHQVWDGWLKUH9LHOIDOWYLHOVFKQHOOHUHLQE WDOVGLHVLQHLQHP QRFKZHLWJHKHQGOlQGOLFKHQ5DXPGHU)DOOLVW2EGLHÃ:gDQDVFKEUFKÁDOVVROFKH ZHLWHUOHEHQ ZLUG ZLH VLH HWZD LQ GHQ 0XQGDUWJHGLFKWHQ -RVHI :HLQKHEHUV QRFK *HVWDOWKDWZHUGHQGLHN QIWLJHQ*HQHUDWLRQHQHQWVFKHLGHQ -RVHI:HLQKHEHU,PSUHVVLRQLP0 U] 8PVFKULIW :DPH6XQGVgDVFKGH%UGDIDLJDO clz XZLGDJIUDLVGLZLDUD.KLQG 'VDWH%ODWDOVFKLDVVQDXVGH'VZDLJDO XQG%DE DUOQGVLDJQLP)UXDMDVZLQG 'VZLVFKQG%DPEDO³VGDUQDED /DFNOQ JVFKULDUQXQGV OLFKPLGDQ)gWVVQELOQ GUXQWEDLQ%RGVPQVFKGUDLFKQVVFKQ G6FKLQ NOQ XQGD0ODGXDGGH*HJQGPLOQ DXIGDGVQgSIWQ-gVX WQZLVQ EUDFNQV*ZgDJULIIVRLVZDQLNVV JVFKgJQ XQGGXDFKG%DPGXDFKNKQVGD 6FKGLFNO5LVQ UDGOXQGG5RW QGQNKXSSHVgJQ 2ULJLQDO :UPH6XQQGVHUVWH3UWHUYHLJHUO!OOZHLZLHGHUJIUHXVWGLZLDUD.LQG =UWH%ODWWHUOVFKLD QDXVGLH=ZHLJHUO XQG3DSLHUOQ]LDJQLP)UXDKMKUVZLQG =ZLVFKHQG %DPSDOlVWHUQDSU /DFNHOQ J VFKULDQXQGV OLJPLWDQ)HW]HQEOOQ GUXQWEHLQ%RRWVPDQQVWUHLFKHQV VFKRQ G 6FKLQDNHOQ XQGD0OHUWXDWGLH*HJHQGPOQ DXIGHU] QHSIWHQ-HVXLWHQZLHVHQ SUDFNQV * ZHKUJULIIVROVZDUQL[ JVFKHJQ XQGGXUFKG %DPGXUFKNDQQVWD6W FNO 5LHVHQ UDGOXQGG 5RWXQGHQNXSSHOVHJQ -RVHI:(,1+(%(56lPWOLFKH:HUNH%G6I

35 1LHGHU VWHUUHLFK 1LHGHU VWHUUHLFK $OOJHPHLQH EHUVLFKW 8P:LHQLP)ODFKODQGV GOLFKGHU'RQDXQDFK:HVWHQKLQVRZLHLQGHQ(EHQHQ Q UGOLFKXQG VWOLFKGHU6WDGWZLUGHLQH0XQGDUWJHVSURFKHQGLHPDQZRKODOVGLH ²PRGHUQVWH GHUPLWWHOEDLULVFKHQ/DQGPXQGDUWHQEH]HLFKQHQNDQQ(VLVWGLHVGDV *HELHWLQGHPVLFKGHUYRQGHU:LHQHU6WDGWPXQGDUWDXVJHKHQGHVSUDFKOLFKH(LQ IOXVV ]XQl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lW EHVLHGHOWHQ 1RUG GRQDXUDXPHVVRZLHGHVV GOLFKHQ1LHGHU VWHUUHLFKGDVVSUDFKOLFKRIWPDQFKHbKQ OLFKNHLWHQPLWGHQVWHLULVFKHQ0XQGDUWHQDXIZHLVWJHJHQ EHUVWHOOW :LHQRFKEHL2EHU VWHUUHLFK]XVHKHQVHLQZLUGLVWHVEHLGHP9HUVXFKHLQHU*OLH GHUXQJGHU0XQGDUWHQQLFKWGDPLWJHWDQHLQIDFKGHQSROLWLVFKHQ9LHUWHOJUHQ]HQ]X IROJHQ 'LHVH 9LHUWHOHLQWHLOXQJ LVW YHUKlOWQLVPl LJ MXQJHQ 'DWXPV XQG ZLUNW VLFK QLFKWGHXWOLFKDXIVSUDFKOLFKH9HUKlOWQLVVHDXV(VLVWYLHOPHKUGLHHLQVWLJHSROLWLVFKH =XJHK ULJNHLWZHLWHU*HELHWH1LHGHU VWHUUHLFKV]XDQGHUHQ/lQGHUQHWZDGLHGHU %XFNOLJHQ:HOW]XU6WHLHUPDUN]XEHU FNVLFKWLJHQ6RZHLWDEHUGLH(QQVGLH*UHQ]H ]X 2EHU VWHUUHLFK ELOGHW VLQG LP EHLGHUVHLWLJHQ ]LHPOLFK IODFKHQ /DQG QLFKW QXU GLHVHOEHQ +DXVIRUPHQ VRQGHUQ DXFK UHFKW GHXWOLFKH PXQGDUWOLFKH hehuhlqvwlp PXQJHQ ]X EHREDFKWHQ 'DVVHOEH JLOW I U GDV V GZHVWOLFKH 1LHGHU VWHUUHLFK GDV PXQGDUWOLFKPLWGHUREHU VWHUUHLFKLVFKHQ0XQGDUWLP:LQNHOYRQ:H\HUDXIIlOOLJH hehuhlqvwlppxqjhq]hljw $XFKHLQH$EJUHQ]XQJGHUQLHGHU VWHUUHLFKLVFKHQ0XQGDUWHQLQ]ZHL*UR JUXSSHQ LQHLQHXD%OXDGXQGHLQHXL%OXLGVSUHFKHQGHZlUHZLOON UOLFKXQGN QQWHQLFKW UHFKWEHIULHGLJHQGDVLHVLFKQXUDXIHLQHHLQ]LJH/DXWHUVFKHLQXQJEH] JHXQGGDV *HELHW GHU XL0XQGDUWHQ ]X %HJLQQ GHV -DKUKXQGHUWV QRFK YLHO DXVJHGHKQWHU ZDU(VLVW]LHOI KUHQGVLFKEHLGHU%HVSUHFKXQJGHUQLHGHU VWHUUHLFKLVFKHQ0XQG DUWYHUKlOWQLVVH]XHUVWGHPVFKRQDQJHGHXWHWHQ:LHQHU(LQIOXVVJHELHW]X]XZHQGHQ XPGDQQLQGHQ0XQGDUWHQGHU5DQGJHELHWHLPJHELUJLJHQ6 GHQXQGQ UGOLFKGHU 'RQDXLP:HLQXQG:DOGYLHUWHOGLHGRUWHUKDOWHQHQ$OWHUW POLFKNHLWHQXQG6RQ 9JO LQVEHVRQGHUH GLH *HVDPWGDUVWHOOXQJ YRQ (EHUKDUG.5$1=0$<(5 'HU QLHGHU VWHUUHLFKLVFKH 'LDOHNW:LHQ

36 1LHGHU VWHUUHLFK GHUHQWZLFNOXQJHQ HQWVSUHFKHQGHU EHKDQGHOQ ]X N QQHQ (LQH UlXPOLFKH 0XQGDUW HLQWHLOXQJLVWI UGLHEHLGHQ/lQGHUXQWHUXQGREHUGHU(QQVEHGHXWHQGVFKZLHULJHU ]XWUHIIHQDOVI UGLH EULJHQ%XQGHVOlQGHU'DVLVWHLQHJUXQGVlW]OLFKZLFKWLJH7DW VDFKH,QGHQ/lQGHUQGHU9HUNHKUVDFKVHgVWHUUHLFKVGHUDOWHQ'RQDXVWUD HVLQG GLH.XOWXUEHZHJXQJHQ XQG PLW LKQHQ DXFK GLH PXQGDUWOLFKHQ 1HXHUXQJHQ YRQ *UXQG DXI LQWHQVLYHU +LQ]X NRPPW GLH 'LFKWH GHU 6LHGOXQJHQ KLHU OLHJW LQ GHU 5HJHO 'RUI DQ 'RUI XQG GLH.RQWLQXLWlW HLQHV XQJHKLQGHUWHQ 9HUNHKUV 'LH 0XQGDUWEHZHJXQJHQVLQGLQHLQHPVWlQGLJHQ)OXVVXQGLQOHEHQGLJHP1HEHQXQG 0LWHLQDQGHU5DXPJUHQ]HQVLQGXQWHUVROFKHQ8PVWlQGHQLPPHUQXUZLOON UOLFK]X ]LHKHQ6RXPIDVVWHGDV*HELHWLQGHPDOWHVXLHUNHQQEDUYRUXD]XU FNZHLFKWXP QLFKWZHQLJHUDOV2UWVFKDIWHQ'HUXL/DXWDOVHLQH6RQGHUHQWZLFNOXQJYRQ IDVWJDQ]1LHGHU VWHUUHLFKLVWLQGLDOHNWNXQGOLFKHU+LQVLFKWGDKHUYRQEHVRQGHUHP,QWHUHVVH 'LHXL0XQGDUWHQ =XGHQ XL 0 X Q G D U W H Q ]lkowpdqmhqhglhi UPKGXRGHPXGHU6FKULIWVSUDFKH LQ: UWHUQZLH²JXW.XK%OXW.UXJ GHQ=ZLHODXWXLVSUHFKHQ:LH.DUWH]HLJW LVW GLHVHU XL/DXW DOOHUGLQJV QLFKW DXI 1LHGHU VWHUUHLFK DOOHLQ EHVFKUlQNW 'DV XL *HELHWHUVWUHFNWVLFKDXIGHQ1RUGRVWHQ2VWHQXQG6 GRVWHQgVWHUUHLFKVXQGXP IDVVW DX HU GHP Q UGOLFKHQ 7HLO GHV :DOG XQG :HLQYLHUWHOV VRZLH HLQHP NOHLQHQ 7HLO GHV 9LHUWHOV XQWHU GHP :LHQHUZDOG QRFK GDV %XUJHQODQG DXVJHQRPPHQ GDV *HELHWV GOLFKGHU5DDEE]Z/DIQLW]XQG7HLOHGHU2VWVWHLHUPDUN=ZHLIHOORVDEHU ZDUGDVXL*HELHWHLQPDOQRFKJU HU+HXWHJLOWXLEHUHLWVDOVYHUDOWHWXQGLVWOlQJVW LP%HJULIIGHP²PRGHUQHUHQ XD]XZHLFKHQ]XPDOGLHVHVMDDXFKGHULQ:LHQQRFK I UPKGXRKHUUVFKHQGH/DXWLVW'DVXL*HELHWZLUGYRQ:LHQDXVPHKUXQGPHKU HLQJHHQJWXQGLVWPDQFKHURUWVVFKRQVWDUNPLWXD6SUHFKHUQGXUFKVHW]WQRFK KDW HLQH KDOEH 0LOOLRQ GHU %HZRKQHU 1LHGHU VWHUUHLFKV GLH XL6SUDFKH YHUZHQGHW 'DVV XL HLQPDO DXFK ELV DQ GLH *UHQ]H GHV DOWHQ :LHQ KHUDQJHUHLFKW KDW EHZHLVW HLQH EHUOLHIHUWH ²0LVVLRQV %X XQG 6LWWHQSUHGLJW GHU *HPHLQH ]X 2WWDNULQJ YRP1RYHPEHU'DULQWDGHOWGHU3ULHVWHUDXFKGLHUHOLJL VH*OHLFKJ OWLJNHLW GHU.LQGHU GLH EHU GDV IU KH $XIVWHKHQ ]XP *RWWHVGLHQVW XQJHKDOWHQ VLQG XQG GDQQGLH0XWWHUlUJHUOLFKIUDJHQÃ:RLVPDL6FKXL6FKXK"¼:HUKRWPDLQ%UXVW IOHFN"Á'HU3ULHVWHUIlKUWDQGLH.LQGHUJHULFKWHWIRUWÃ'DVROOWGHU9DWHUGHQ2FK VHQ]DKPQHKPHQRGHU V6WDEHUOXQGVROOWHQNVVXLFKQVXFKHQGDZXUGV VVFKRQ 0LW(QWVWHKXQJXQG9HUEUHLWXQJGHVXL/DXWHVKDEHQVLFKHLQJHKHQG:DOWHU67(,1+$86(5'LH(QW ZLFNOXQJ GHV DKG XR LP %DLULVFKHQ :LHQ +HLQULFK :(,*/ 'LH QLHGHU VWHUUHLFKLVFKH XL 0XQGDUW%RQQ /HLS]LJXQG0DULD+25181*XL/DXWXQJHQLQGHQ0XQGDUWHQgVWHUUHLFKV XQGEHQDFKEDUWHU*HELHWHDXVHLQDQGHUJHVHW]W

37 1LHGHU VWHUUHLFK.$57( 'LHXL0XQGDUWHQLP VWOLFKHQgVWHUUHLFK 9HUEUHLWXQJVJHELHW XP DQKDQG GHV %HLVSLHOZRUWHV ²%OXW %OXDG%OXLGQDFK 67(,1+$86(5KHXWHZHLWJHKHQGDXI.HUQJHELHWH]XU FNJHZLFKHQGLHVFKZHUDE ]XJUHQ]HQVLQG Horn XL Krems Stockerau Donau WIEN XD Bruck XL Wr. Neustadt EISENSTADT XD GRAZ Raab Hartberg XL Jennersdorf

38 1LHGHU VWHUUHLFK ILQGHQÁ 6R NRQQWH VLFK GDPDOV HLQ 3UHGLJHU DP :HVWUDQG YRQ :LHQ RIIHQEDU LQ 1DFKDKPXQJGHU0XQGDUWVHLQHU=XK UHUDXVGU FNHQ(LQH)X QRWH]XGLHVHU3UH GLJWEHVDJW EULJHQV²'LHVHXQGGLHIROJHQGHQ5HGHQZXUGHQYRQGHP+HUUQ3UH GLJHUPLWGHUJHK ULJHQ.LQGHUVWLPPHVRZLHGLHJDQ]H3UHGLJWLP VWHUUHLFKLVFKHQ 7RQH DIIHNWLUW ZRUDXI LPPHU HLQ DOOJHPHLQHV *HOlFKWHU HQWVWDQG 'LHVHU ZHQQ JOHLFKHLQZHQLJ EHUWULHEHQH7RQNDQQWHDOVRGDVXLZLHJOHLFK]ZHL%HOHJHLQGHP NOHLQHQ$XVVFKQLWWEHZHLVHQXQGDXFKVRQVWLVWGLHVHULQMHGHP:RUWPXQGDUWOLFK LQWHUHVVDQW$XFKYRP²%UXVWIOHFN GHU]ZDULQGHQ$OSHQUHJLRQHQQRFKWHLOZHLVH LP*HEUDXFKLVWLQGHQ'RQDXOlQGHUQDEHUEHUHLWV]XGHQKLVWRULVFKHQ.OHLGXQJV VW FNHQ]lKOWXQGEHVWHQIDOOV QXU QRFK YRP + UHQVDJHQ EHNDQQW LVW ZLUG KLHU JH VSURFKHQ $OWHXQGQHXHUH6SUDFKVFKLFKWHQ 8P GLH /DJHUXQJ GHU DOWHQ XQG QHXHUHQ 6SUDFKVFKLFKWHQ LQ GHQ 0XQGDUWHQ YRQ 1LHGHU VWHUUHLFK]XHU UWHUQLVWHLQGLHVEH] JOLFKHU9HUJOHLFKPLWGHUREHU VWHUUHL FKLVFKHQ1DFKEDUPXQGDUW]ZHFNPl LJ,Q2EHU VWHUUHLFK]LHKWVLFKZLHQRFK]X]HLJHQVHLQZLUGPLWGHUVRJHQDQQWHQg =RQH HLQH EHKDUUOLFKH VSUDFKOLFKH %U FNH LQ 6 G1RUG5LFKWXQJ PLWWHQ GXUFK GDV /DQGVLHKH.DUWH,P2VWHQGLHVHU=RQHOLHJWHLQ*HELHWGDVYRUDOOHPDQGHU (QQVPXQGDUWOLFKLQYLHOHQ%HODQJHQPLWGHPDQJUHQ]HQGHQQLHGHU VWHUUHLFKLVFKHQ 0RVWYLHUWHO EHUHLQVWLPPWXQGZLHGLHVHVEHUHLWVPDQFKHYHUNHKUVVSUDFKOLFKH= JH DXIZHLVWZl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hEHUHLQ VWLPPXQJHQLQGHQ$OWHUW POLFKNHLWHQGHU0XQGDUWHQYRQ1LHGHUXQG2EHU VWHU UHLFKDXIHLQHLQVWPDOVHLQKHLWOLFKHUHV%LOGGHVJHVDPWHQ0LWWHOEDLULVFKHQVFKOLH HQ 1RFKYRQHLQHPDQGHUHQ*HVLFKWVSXQNWKHUODVVHQVLFKGLHPXQGDUWOLFKHQ9HUKlOW QLVVHGHUEHLGHQ1DFKEDUOlQGHULQ%H]LHKXQJEULQJHQ,Q2EHU VWHUUHLFK0LWWHO]R QHQRFKDOOJHPHLQJ OWLJH$OWHUW POLFKNHLWHQVLQGRGHUZDUHQDXFKLQ1LHGHU VWHU UHLFKYRUKDQGHQPDQEHDFKWHMHGRFKIROJHQGH8QWHUVFKLHGH ->RKDQQ@6&+(,%/('DV.ORVWHU:HOWOLFKXQGJHLVWOLFK0HLVWDXVGHQlOWHUQGHXWVFKHQ9RONV:XQ GHU&XULRVLWlWHQXQGYRU]XJVZHLVHNRPLVFKHQ/LWHUDWXU=XU.XOWXUXQG6LWWHQJHVFKLFKWHLQ:RUW XQG%LOG%G6WXWWJDUW6

39 1LHGHU VWHUUHLFK 0DQFKHGLHVHU$OWHUW POLFKNHLWHQ HVVLQGGLHGLHDXFKLQ2EHU VWHUUHLFKYHU HLQ]HOWQXUQRFKEHLGHQlOWHVWHQ0XQGDUWVSUHFKHUQ]XILQGHQVLQG VLQGLQ1LH GHU VWHUUHLFKQLFKWPHKUDQ]XWUHIIHQ D,Q2EHU VWHUUHLFKVDJHQPDQFKHQRFK:gWVV:HL]HQ/gWDQ/HLWHUXVZ HVLVWZRUWZHLVHQRFKGLHlOWHUH(QWVSUHFKXQJI UPKGHLQlPOLFKgLQ*H EUDXFK $XV 1LHGHU VWHUUHLFK LVW DOV DOWHV g5hvwzruw QXU GLH %H]HLFKQXQJ I U GHQ ZDUPHQ )U KOLQJVZLQG :gzlqg ²:HLFKZLQG EHNDQQW 'LHVHU HLQ]LJHQQLHGHU VWHUUHLFKLVFKHQg)RUPVWHKHQLQ2EHU VWHUUHLFKPLQGHVWHQV QRFKVLHEHQDOOJHPHLQJHEUlXFKOLFKHXQGHLQHJUR H$Q]DKOYRQEHOHJWHQg )RUPHQGLHQXUQRFKYHUHLQ]HOWJHVSURFKHQZHUGHQJHJHQ EHU E $OWH)RUPHQGHULQGLUHNWHQ5HGHZHLVHZLHLIDJ VVLVFKGDFKLOLDVVLFKYHU Jl HVWlFKHOLH HVLQGLQ2EHU VWHUUHLFKPDQFKHURUWVDOV$OWHUW POLFKNHLW QRFK JHEUlXFKOLFK ZlKUHQG VLH LQ 1LHGHU VWHUUHLFK DXI L NKDP L QDPLFK NlPHQlKPHXQGDXIL EUDFKGLFKEUlFKWHXQGZHQLJHDQGHUHEHVFKUlQNW ]X VHLQ VFKHLQHQ,Q 1LHGHU VWHUUHLFK VDJHQ DXFK GLH lowhvwhq 0XQGDUWVSUH FKHUPHLVWVFKRQLIDJœVVDGVFKGHFKFKDGOVVDG 9LHOHLQ2EHU VWHUUHLFKQRFKDOOJHPHLQJ OWLJH/DXWHUVFKHLQXQJJHK UHQLQ1LH GHU VWHUUHLFK]XGHQEHUHLWVlX HUVWVHOWHQJHZRUGHQHQ$OWHUW POLFKNHLWHQRGHU VLQG OlQJVW DXI VSUDFKOLFKH 5 FN]XJVJHELHWH EHVFKUlQNW 6R ZDU GHU Y OOLJH U $XVIDOOYRUQODXFKLQ1LHGHU VWHUUHLFKZRKOHLQPDODOOJHPHLQYRUKDQGHQZRI U :RUWIRUPHQ ZLH 6FKGgUQ 6WHUQ.KUO.DUO XVZ LQ JHZLVVHQ *HJHQGHQ =HXJQLVDEOHJHQDOOJHPHLQGDJHJHQ6FKGgDUQ.KDUO0DQFKH: UWHUVLQGLQ 2EHU VWHUUHLFKKlXILJQRFKPLWHLQHP:XFKHUVHOEVWODXWLQ*HEUDXFK,QG UIOL FKHQ *HELHWHQ NDQQ HV KHXWH QRFK DOOJHPHLQ %guh %HUJ :guh :HUJ UDP DUPVFKGgUDPVWHUEHQ L IR OHJLFKIROJHXVZKHL HQ,Q1LHGHU VWHUUHLFK VLQGGLHVHDOWHQ:RUWIRUPHQLPJU WHQ7HLOGHV*HELHWHVGXUFKGLHLQGHU9HU NHKUVVSUDFKH JHOWHQGHQ :RUWIRUPHQ ZLH %gdj :gdfk DUP VFKGgDEP IRLJQ XVZ YHUGUlQJW XQG JHOWHQ DXFK LQ VSUDFKOLFK NRQVHUYDWLYHQ *HELHWHQ RIW VFKRQ DOVDOWHUW POLFK,P1RUGRVWHQVLQGVLHEHLlOWHUHQ6SUHFKHUQQRFK EOLFK $OOJHPHLQH0HUNPDOH %HYRUGLHQLHGHU VWHUUHLFKLVFKHQ0XQGDUWHQLP(LQ]HOQHQEHKDQGHOWZHUGHQJLOWHV QRFK HLQLJH JHVDPWQLHGHU VWHUUHLFKLVFKH 0HUNPDOH DQ]XI KUHQ GLH ZHLWJHKHQG QRFKDOV]LHPOLFKDOOJHPHLQJ OWLJDQJHVHKHQZHUGHQN QQHQ)DVWLPJDQ]HQ1LH GHU VWHUUHLFKNDQQPDQEHLlOWHUHQ0XQGDUWVSUHFKHUQI URLQ: UWHUQZLH²%URW 1RWWRW PKG GHQHLQIDFKHQPLWGHUPXQGDUWOLFKHQ(QWVSUHFKXQJI UGDVDGHU 6FKULIWVSUDFKH %>FK@ I U ²%DFK ]XVDPPHQIDOOHQGHQ /DXW K UHQ %UG 1G 9JO+HUEHUW*5$80XQGDUWXQG.XOWXULP(LVHQODQG/LQ]6

40 1LHGHU VWHUUHLFK.$57( 'LHDOWHUW POLFKVWHQ0XQGDUWJHELHWHLQ1LHGHUXQG2EHU VWHUUHLFKXP Innviertel Mühlviertel LINZ Traun Mostviertel Hausruckviertel Traunviertel Enns Waldviertel Donau Weinviertel WIEN Bucklige Welt

41 1LHGHU VWHUUHLFK GG RGHU%UVQ %URVDPH'LH/DXWJUXSSH HU PKG HU HUVFKHLQW LQ 1LHGHU VWHU KLHU GLH ZLHQHULVFKHQ )RUPHQ NKgDUQ ZgDUQ ]XQHKPHQG GXUFKVHW]HQ ) U ²JHZH VHQ JLOW LP DOOHUJU WHQ 7HLO GHV /DQGHV JZHVG LQ M QJHUHU =HLW YHUPHKUW MHGRFK DXFKVFKRQZLHLP:LHQHULVFKHQJZHVQ0LW$XVQDKPHGHU:HFKVHOJHJHQGXQGGHU VR JHQDQQWHQ (LVHQZXU]HQ KHL W HV LQ JDQ] 1LHGHU VWHUUHLFK I U ²VLH VWHKHQ VH VFKGgQJDQGZlKUHQGGLH1DFKEDUPXQGDUWHQGDVlOWHUHVHVFKGgQG<PKGVW QW VSUHFKHQ²,FKKDEH ODXWHWVFKRQZHLWKLQLKELQGHPHLQHM QJHUHQLHGHU VWHUUHL FKLVFKH(QWZLFNOXQJJHJHQ EHUGHPDOWHQLKQ<PKGLFKK Q]XVHKHQLVW )DVWLQJDQ]1LHGHU VWHUUHLFKLVWGLH1DFKVLOEHHOQDFK/LSSHQODXWHQ/DELDOHQ]X E]ZLQM QJHUHU=HLW]XHJHZDQGHOWPDQVDJW*Z *ZH*DEHO/HII /HIIH / IIHO,Q2EHU VWHUUHLFKODXWHQGLHVH: UWHU*Z /HII $OV%HVRQGHUKHLWGHV <EEVWDOHVXQGGHV'RQDXWDOHV]ZLVFKHQ<EEVXQG0HONJLOWGDVVLQDXIHODXVODX WHQGHQ: UWHUQDXFKGHU6WDPPVHOEVWODXWJHUXQGHWZLUGPXQGDUWOLFKHVHDOV LDOV HUVFKHLQWZlKUHQGHOl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²EODVHQ KDWLQGHUHFKWHQ0XQGDUWLQ1LHGHU VWHUUHLFKPLW$XVQDKPH GHV6 GZHVWHQVHLQVFKZDFKHV0LWWHOZRUWGHU9HUJDQJHQKHLWGDVHLQPDO$OOJHPHLQ J OWLJNHLWJHKDEWKDEHQG UIWH'D:LQGKGEOVG'HU:LQGKDWJHEODVHQK UW PDQ]%LP3XONDXWDO%DLGD0XVLKELIULDUD'HQDKDUQEOVG%HLGHU0XVLN KDEHLFKIU KHU7HQRUKRUQJHEODVHQVDJWHLQ%DXHULP6WHLQIHOG$EHUDXFKLQGHU :DFKDXNDQQPDQ+DLG KGV EOVGK UHQZDVQLFKWVDQGHUHVEHGHXWHWDOV+HXWH ZDUHVZLQGLJbKQOLFKYHUKlOWHVVLFKPLWGHPVFKZDFKHQJUXDIGRGHUJULDIGI U²JH UXIHQ QJULDIG I U ²DQJHUXIHQ ZHQQ PDQ GDI U QLFKW OLHEHU QJVFKULDUQ >DQ@JHVFKULHQVDJW:HLWYHUEUHLWHWVFKHLQWLQ1LHGHU VWHUUHLFKI UGDVXQSHUV QOL FKH²HV HLQPDOVLJHZHVHQ]XVHLQ+HXWHZLUGPDQFKPDOQRFKLP:HLQYLHUWHOJH VDJW6LZLDGELGUHJQD(VZLUGEDOGUHJQHQDEHUDXFKLQDQGHUHQ*HELHWHQ1LH GHU VWHUUHLFKVGU FNWPDQVLFKLQDOWHUW POLFKHU5HGHZHLVHVRDXV0DQFKHDQGHUH IU KHUHLQPDODOOJHPHLQJ OWLJH0HUNPDOHGHV1LHGHU VWHUUHLFKLVFKHQVRHWZDGHU $EIDOOGHUPXQGDUWOLFKDXVODXWHQGHQJEVLQGKHXWHRIWQXUQRFKLQGHQDOWHUW POL FKHQ XL0XQGDUWHQ ]X ILQGHQ ZR : UWHU ZLH.UXJ %XEH %DFK 6lJH <PKG VDJHJOHLFK 6WHLJ5HEH :HJDOV*UXL¼%XL%¼6JODL¼6FKGDL5H¼:HUHL QH5HLPHELOGHQRGHU: UWHUZLH7DJ 'DFK.UXJ *UXEHLQ'E]Z*UXL]X VDPPHQIDOOHQ+HXWHZLUGGDVIHKOHQGHJZLHLP:LHQHULVFKHQLQGHUQRUG VWOLFKHQ

42 1LHGHU VWHUUHLFK +loiwhgxufkfkhuvhw]w:hfk:hj'dvvglhvhu$eidooyrqjehlqpdodoojhphlqhu ZDUGDYRQ]HXJHQ =XVDPPHQVHW]XQJHQ ZLH /HVFKDLG /HJVFKHLW 'ZgDFK 7DJ ZHUN DOV $FNHUPD *UVFKDLG *UDEVFKDXIHO /HGV GQ /HE]HOWHQ NXFKHQ XYDDXIZHLWHP*HELHW 'HU:LHQHU(LQIOXVV,P)ROJHQGHQVROO]XQlFKVWGDVXQPLWWHOEDUH:LHQHU(LQIOXVVJHELHWQlKHUEHKDQGHOW ZHUGHQHVLVWGLHVYRUDOOHPGLH*HJHQGXP:LHQDEHUDXFKDOOHYHUNHKUVUHLFKHQ *HELHWH EHVRQGHUV LP 8PNUHLV GHU 6WlGWH JHK UHQ GD]X +LHU LVW JHUDGH]X HLQH hehuioxwxqjplwxuvsu QJOLFKPXQGDUWIUHPGHQ:RUWIRUPHQ]XEHREDFKWHQGLHVLFK LQQlFKVWHU1lKHGHV9HUNHKUVXQG.XOWXUPLWWHOSXQNWHVQDW UOLFKDPDOOHUVWlUNVWHQ JHOWHQGPDFKW :DV GHQ :RUWVFKDW] EHWULIIW VHL KLHU QXU DXI GLH :RFKHQWDJQDPHQ 'LHQVWDJ XQG 'RQQHUVWDJKLQJHZLHVHQ'LHElXHUOLFKHQ0XQGDUWHQNHQQHQI U'LHQVWDJQRFKGLH DOWHQDXIGDV2VWJHUPDQLVFKH]XU FNJHKHQGHQ1DPHQ,DULGFK,DGD²(UJHWDJ I U'RQQHUVWDJ%ILQGVGD%ILQJVGD²3ILQ]WDJ,P$QVFKOXVVDQGLH6FKULIWVSUDFKH JHEUDXFKW GLH 9HUNHKUVVSUDFKH GLH HLQ 0LWWHOJOLHG ]ZLVFKHQ 0XQGDUW XQG +RFK VSUDFKH GDUVWHOOW ZLH GDV :LHQHULVFKH GLH : UWHU ²'LHQVWDJ XQG ²'RQQHUVWDJ 'LHVHKDEHQGLHDOWHQ:RFKHQWDJQDPHQ,DGDXQG%ILQGVGDDXVGHU%DXHUQPXQGDUW QDFK :HVWHQ EHUHLWV ELV LQ GLH *HJHQG YRQ 6W3 OWHQ ]XU FNJHGUlQJW 0DQ JH EUDXFKW KLHU GDI U GLH : UWHU ²'LHQVWDJ 'RQQHUVWDJ LQ PHKU RGHU PLQGHU YHU PXQGDUWOLFKWHU)RUP'LQVGFK'XQDVGFK 'HUZLHQHULVFKHKHOOHD/DXWI UPKGHLODGOHLGLVWGXUFKDXVQLFKWPHKUDXIGDV :LHQHULVFKH DOOHLQ EHVFKUlQNW (U GULQJW DXFK LQ GLH /DQGPXQGDUWHQ XP :LHQ LQ GLH6WlGWHXQG0lUNWHXQGYRQGLHVHQDXVZLHGHULQGHUHQQlKHUH8PJHEXQJYRU 8P:LHQZHUGHQKHXWH]DKOUHLFKH: UWHULQGHQHQPKGHLYRUOLHJWGDVJHPHLQ EDLULVFKDOVDHUVFKHLQWODGOHLGEDOGPLWGHP=ZLHODXWDEDOGDEHUPLWKHOOHP HLQIDFKHP D JHVSURFKHQ XQG ]ZDU KDEHQ GDV D YRU DOOHP GLH LP 9HUNHKU PLW GHQ :LHQHUQKlXILJYHUZHQGHWHQ: UWHU'LH%DXHUQXP:LHQ EHUQHKPHQGDVKHOOHD ZRUWZHLVH XQG VDJHQ ZLH GLH :LHQHU VFKRQ VHLW OlQJHUHP ODG OHLG JODQ NOHLQ 0DVGD0HLVWHUXVZZlKUHQGDXVJHVSURFKHQH0XQGDUWZ UWHUGLHGHP:LHQHUL VFKHQYLHOOHLFKWVFKRQIHKOHQRGHUGLHLP9HUNHKUPLWGHQ:LHQHUQQLFKWYRUNRP PHQQRFKGDVDGHUOlQGOLFKHQ0XQGDUWHQ]HLJHQ,QQlFKVWHU1lKH]XU*UR VWDGW YHUZHQGHW PDQ GLHVH :LHQHU D JHUDGH]X PLW GHP %HZXVVWVHLQ GDVV GDV DOWH D VFKRQ Y OOLJ DXVJHVWRUEHQ VHL NRQQWH PDQ HLQH *UR (Q]HUVGRUIHULQ VDJHQ K UHQÃ$V UHGQQXDPgDGHGGUXQWQÁ6RUHGHQQXUPHKUGLHGDGUXQWHQZRPLW ²(UJHWDJ EDLU.HQQZRUW <PKGHUWDF XUVSU QJO ²7DJ GHV.ULHJVJRWWHV $UHV ²3ILQ]WDJ EDLU.HQQZRUW<PKGSILQ]WDF]XDOWJULHFKSœPWH²GHUI QIWH:RFKHQWDJ YJO(EHUKDUG.5$1=0$<(5 'LHEDLULVFKHQ.HQQZ UWHU6

43 1LHGHU VWHUUHLFK VLH GLH 0DUFKIHOGHU %DXHUQ PHLQWH 9RQ GHUVHOEHQ 6SUHFKHULQ NRQQWH PDQ DEHU JOHLFKGDUDXIYHUQHKPHQZLHVLH EHUGLHJODQ*VFKPDVGLHNOHLQHQ²*HVFKPHL HU.LQGHUNODJWHDOVVLFKGLHVHYRUGHU7 U]XODXWEHQDKPHQ²5LFKWLJ ZlUH HQWZHGHUGHJODQ*VFKPDVDRGHUGHJODQ*VFKPDVDGD²*HVFKPHL XQG²NOHLQ GDVVHOEHPKGHL]XJUXQGHOLHJW'DV:RUW*VFKPDVZLUGLQQlFKVWHU1lKH]X:LHQ ZRKOXQYHUlQGHUWEOHLEHQGDLP:LHQHULVFKHQE]ZLQGHU:LHQHU9HUNHKUVVSUDFKH GDVGHP*VFKPDVHQWVSUHFKHQGH*VFKPDVVHOWHQLVW,Q: UWHUQGLHDOWHP:RUW VFKDW]DQJHK UHQEOHLEWHEHQDXFKGLHDOWH/DXWIRUPHUKDOWHQ,QGHQ=HLWZ UWHUQGHU$EODXWUHLKH²VFKLH HQNOLHEHQIOLHJHQ XVZEHLGHQHQ LQ2EHU VWHUUHLFKGHUDOWHHRRH/DXWQRFK]LHPOLFKIHVWLVWXQGGLHDXFKLQNRQVHU YDWLYHQ QLHGHU VWHUUHLFKLVFKHQ 0XQGDUWHQ QRFK DOV VFKRHVVQ JORHEP IORHJQXVZ HUVFKHLQHQKHUUVFKWKHXWHLPDOOHUJU WHQ7HLOGHV/DQGHVVFKRQLDZLHLQGHU9HU NHKUVVSUDFKHXQGLP:LHQHULVFKHQVFKLDVVQJOLDEPIOLDJQ 'HU:DQGHOYRQRU]XXDZDUELVXQJHIlKUQRFKHLQEHVRQGHUHV.HQQ]HLFKHQ GHV:LHQHULVFKHQ+HXWHWULIIWPDQOlQJVWDXFKLQGHQ%DXHUQPXQGDUWHQYRQ1LH GHU VWHUUHLFKHWZDGLH: UWHU²IRUWGRUW)RUP7RUWH XVZDOVIXDW GXDW)XDUP 'XDWQDQGRFKKDQGHOWHVVLFKZLHGLH%HLVSLHOH]HLJHQ]XQlFKVWXP: UWHUGLH GHUDOWHQ0XQGDUW EHUKDXSWIUHPGZDUHQ6WDWW²GRUW VDJWHPDQIU KHUXQGYHU HLQ]HOW DXFK KHXWH QRFK PDQFKPDO GVgEP ²GDVHOEHQ : UWHU GLH VHLW MH GHU 0XQGDUW DQJHK UHQ ZLH ²'RUI.RUQ 'RUQ XVZ KDEHQ GDV LQ 1LHGHU VWHUUHLFK I U RU ]X HUZDUWHQGH D 'DI.KDUQ 'DUQ LQ DOWHUW POLFKHQ *HELHWHQ VRJDU QRFK.KUQ'UQPLWY OOLJHP6FKZXQGGHVU$OV.HQQ]HLFKHQDOWHU%DXHUQ PXQGDUWHQ EHJHJQHW PDQ QRFK RIW GHP Y OOLJHQ $XVIDOO YRQ U YRUQ O ZLHLQ 6FKGgUQ6WHUQ*UQ*DUQXQGRIWJOHLFK]HLWLJPLWLKPGHPHUZlKQWHQ:X FKHUVHOEVWODXW *ROLJQ *DOJHQ IROLJQ IROJHQ 'LH PRGHUQHUHQ 0XQGDUWHQ 1LH GHU VWHUUHLFKVKDEHQGLHYHUNHKUVVSUDFKOLFKHQ :RUWIRUPHQ 6FKGgDUQ XQG *DUQ *LJQXQGIRLJQXQGLQGHU²EHVVHU VSUHFKHQGHQ=RQHV GOLFKGHU'RQDXEHL0HON 9HUNHKUVZHJ KDW PDQ QRFK GLH Ã'UHQWDGDQLQJDÁ GLH %HZRKQHU MHQVHLWV GHU'RQDXPLWGHP1HFNVDW]YHUVSRWWHWÃ.KUOPJVGDQ6FKPUQ"¼-ZQ DZUQZDÁ.DUOPDJVWGXHLQHQ6FKPDUUHQ" -DZHQQHUZDUPZlUHGHQQ LP:LHQHU(LQIOXVVJHELHWZ UGHGHUVHOEH6DW]ODXWHQ.KDUOPJVGDQ6FKPDUQ" ¼-ZQDZDUPZD6 GOLFKGHU'RQDXQHQQWQDQQWHPDQGLH'UHQWDGDQLQJD DXFK GL %OEP GLH ²%ODXHQ ZHLO VLH I U ²EODX QRFK GLH lowhuh :RUWIRUP EOE JHEUDXFKWHQ 'HUQ UGOLFKH'RQDXUDXP :DVGLH0XQGDUWHQLP1RUGHQGHU'RQDXEHWULIIWVROlVVWVLFK EHUGLH0XQGDUWLP 0DUFKXQG7XOOQHUIHOGQLFKWVZHLWHU%HVRQGHUHVVDJHQGDGLHVH*HELHWHXQPLWWHO 9JOPKGJHVPHL5HI U²%UXW*H] FKW

44 1LHGHU VWHUUHLFK EDU XQWHU :LHQHU (LQIOXVV VWHKHQ 'HU 1RUGHQ GHU 'RQDX JHK UW ZLH VFKRQ HU ZlKQW ]XP JU WHQ 7HLO :HLQYLHUWHO XQG Q UGOLFKHV :DOGYLHUWHO GHQ XL 0XQGDUWHQDQ]XPNOHLQHUHQV GOLFKHV:DOGYLHUWHOGHQXD0XQGDUWHQ'DV$XI WUHWHQYRQXLRGHUXDLP:DOGYLHUWHODEHUN QQWH(LQEOLFNLQGHQ=XVDPPHQKDQJ YRQ6LHGOXQJXQG6SUDFKHJHEHQ XLZLHLQ%OXLGI U²%OXW KHUUVFKWKHXWHQlP OLFKLP:DOGYLHUWHOVRZHLWHVYRQ2VWHQXD%OXDGVRZHLWHVYRQ6 GHQKHUEHVLH GHOW ZXUGH 'HP P VVWH DOOHUGLQJV ]XJUXQGH OLHJHQ GDVV EHLGH 6LHGOHUJUXSSHQ LKUHQKHLPLVFKHQ/DXWPLWEUDFKWHQGHUHEHQLP2VWHQXLLP6 GHQXDZDU'RFKLVW DXFK GHQNEDU XQG GDI U VSULFKW ZLH QRFK ]X ]HLJHQ VHLQ ZLUG GHU 21 )HXHUV EUXQQ GDVVGDV:DOGYLHUWHOHLQPDO]XU*lQ]HXL*HELHWZDU'DQQKlWWHGDVV GOL FKH :DOGYLHUWHO VHLQH XD YRP PXQGDUWOLFK PRGHUQHUHQ 'RQDXWDO EH]RJHQ 1DFK.5$1=0$<(56 (UNHQQWQLVVHQ EHVWDQG ZLH XUNXQGOLFKH )RUPHQ QDKH OHJHQ HLQ JHVFKORVVHQHVXL*HELHWELVZHLWQDFK2EHU VWHUUHLFKKLQHLQ,P 1RUGGRQDXUDXP :HLQ XQG Q UGOLFKHV :DOGYLHUWHO LVW KHXWH QRFK MH ZHLWHU PDQQDFK1RUGHQNRPPWGHUHLQVWLQ1LHGHU VWHUUHLFKZRKODOOJHPHLQJ OWLJH$E IDOO YRQ KHXWH DXVODXWHQGHP J XQG E QRFK QDFK]XZHLVHQ,Q HFKWHU ElXHUOLFKHU 6SUHFKZHLVHEHJHJQHWPDQLP:HLQYLHUWHOZLHLPXLVSUHFKHQGHQ7HLOGHV:DOGYLHU WHOV LQ JUR HU $Q]DKO GLHVHQ UHGX]LHUWHQ :RUWIRUPHQ 'LH IROJHQGHQ %HLVSLHOH VWDPPHQ DXV GHU 1RUGRVWHFNH 1LHGHU VWHUUHLFKV *U*UDEJUR JURE L JLLFK JHEH5H5HEH5HVFKD5HEVFKHUH5HKgDQO5HEKXKQ:H:HJ%O3OD JH/X/ JH::DDJH)OL²)O JH OLHGHUOLFKHV0lGFKHQ'U7UDJHLOL LFKOLHJH%IOH3IOHJH%IOXL3IOXJ//DJHLPLFKPDJ,P,QODXWVWHKWI U JPHLVWFKPFKDPDJHU-DFKD-lJHU$XFKLQGHUXL0XQGDUWGHV:DOGYLHUWHOV VLQGYRUDOOHPJORVH)RUPHQQRFKKlXILJ6FKGH6WHJ+gDQVFKGDL+ KQHUVWHLJH *ULD.ULHJJOXL²NOXJ VSDUVDP'VDL=HXJXYD0DQFKPDOLVWLPlX HUVWHQ 1RUGRVWHQKHOOHVDI UJHPHLQEDLULVFKDLQ: UWHUQZLH²EUHLWOHLG XVZ]XK UHQ GRFKHPSILQGHWPDQEUDGODGXVZGDQQQLFKWDOVZLHQHULVFKVRQGHUQYLHOPHKUDOV PDUDULVFK V GPlKULVFK ZR ELV EHL GHU GHXWVFKVSUDFKLJHQ %HY ONHUXQJ LP VWOLFKHQ7HLOJOHLFKIDOOVI UPKGHLKHOOHVDVWDWWDZLHLQ:LHQJDOW 'LH(QWZLFNOXQJGHVU/DXWHVLVWLQGLHVHU*HJHQGLQDOWHUW POLFKHU5HGHLQJHZLV VHQ)lOOHQGLHVHOEHZLHVLHLP=HQWUXPYRQ2EHU VWHUUHLFKQRFKDOOJHPHLQJLOW'DV U IHKOW Y OOLJ YRU Q O GLH : UWHU ²6WHUQ /DWHUQH ZHUGHQ.HUQ.HUO 5 KUOHLQ ODXWHQ KLHU QLFKW DQGHUV ZLH LP REHU VWHUUHLFKLVFKHQ =HQWUDOUDXP QlPOLFK 6FKGgUQ /GgUQ ZgUQ.KgUQ.KgUO 5gUO %HVRQGHUV DXIIlOOLJ LVW GLH hehuhlqvwlppxqjehlghuyrqhlqdqghuvrhqwohjhqhq0xqgduwhqlp)hkohqjhzlvvhu G/DXWHQDFKQ:LHLPREHU VWHUUHLFKLVFKHQ.HUQJHELHWQRFKDOOJHPHLQVDJWPDQ KLHU LQ DOWHUW POLFKHU 5HGHZHLVH :XQD :XQGHU.KLQD.LQGHU ZQDQZDQ GHUQE]ZKXQDGKXQGHUWLQ2gKXQDFKGQDVFKGDQGHUVLQ2gQDV 9JO$QWRQ3)$/='LH0XQGDUWGHV0DUFKIHOGHV:LHQ 9JO GD]X.DUO /(&+1(5 *HVFKLFKWH GHU %HVLHGOXQJ XQG XUVSU QJOLFKH *UXQGEHVLW]YHUWHLOXQJ LP :DOGYLHUWHO:LHQXQG)UDQ])5(,7$*'DV:DOGYLHUWHODOV6SUDFKUDXP:LHQ

45 1LHGHU VWHUUHLFK $OVGHUEElXULVFKZLUGDEHUEHUHLWVRHLQ: UWHUQZLHIORHJQIOLHJHQERHJQELH JHQ HPSIXQGHQ LQ JU HUHQ 6LHGOXQJHQ XQG GHUHQ 8PJHEXQJ ZLUG KHXWH OlQJVW IOLDJQELDJQJHVDJW:LHLPlX HUVWHQ6 GRVWHQ%XFNOLJH:HOWIlOOWDXFKLP1RUG RVWHQ 1LHGHU VWHUUHLFKV GHU :DQGHO GHU /DXWJUXSSH DU PKG DU U LQ JHZLVVHQ 6WHOOXQJHQ]XXDDXIJXDJDUXDULDUJ%XDG%DUWZXDZDU-XD-DKU'RFK VLQGGLHPRGHUQHUHQ:RUWIRUPHQJDDJ%DGZD-DIUHLOLFKOlQJVWVFKRQGLH YRUKHUUVFKHQGHQ9RUQZLUGHZHQQHVDXIPKG RGHUž]XU FNJHKWYHU]ZLHODXWHW VFKGgLQVWHKHQ<PKGVW Q6FKGUgLQ6WUlKQH<PKGVWUžQH'LH1DFKVLOEHXQJ LVW LP :HLQYLHUWHO ZLH LP Q UGOLFKHQ :DOGYLHUWHO LQ ElXHUOLFKHU 0XQGDUW LQJGDV HLQPDO YLHO JU HUH 9HUEUHLWXQJ JHKDEW KDEHQ G UIWH $XVGVLDULQJ $XV]HKUXQJ cignvvlqj $EIHFKVXQJ XQJ KDEHQ YRU DOOHP /LWHUDWXUZ UWHU ZLH ²)LUPXQJ 5HFKQXQJ=HLWXQJ XVZ 'DV3XONDXWDO,QGHU6SUDFKHGHU:HLQEDXHUQGHV3XONDXWDOHVEHJHJQHWPDQHLQHUUHFKWXUW POL FKHQ0XQGDUWGLHGHUGHV:DOGYLHUWHOVDQDOWHUW POLFKHU%HVRQGHUKHLWQLFKWQDFK VWHKW'LH%HY ONHUXQJLVWZHQLJVWHQVQRFKXPDOVNRQVHUYDWLY]XEH]HLFKQHQ GLH %HHLQIOXVVXQJ LKUHU 0XQGDUW GXUFK GLH 9HUNHKUVVSUDFKH HUVW LQ JHULQJHUHP $XVPD VS UEDU$XIGHQHUVWHQ%OLFNIlOOWDXFKKLHUZLHGHUPDQFKHhEHUHLQVWLP PXQJ GHU 0XQGDUW GHU lowhuhq 3XONDXWDOHU PLW GHU REHU VWHUUHLFKLVFKHQ =HQWUDO PXQGDUWDXI'HQQDXFKKLHUIHKOWUYRUOQY OOLJ%UQ)XWWHUWURJ<PKGEDUQ.KUO.DUO.KgUQ.HUQ6FKGgUQ6WHUQ 'HURHRL/DXWLVWQRFKLQYLHOHQ: UWHUQ]LHPOLFKEHVWlQGLJERHGQELHWHQVRHGQ VLHGHQ JIURHVQIULHUHQ<PKGYULHVHQ 0KG H SULPlUHV 8PODXWH ZXUGH LP 3XONDXWDO QRFK YRU HLQLJHQ -DKUHQ DOV gd ZLH LP <EEVWDO E]Z LP REHU VWHUUHLFKL VFKHQ 7UDXQYLHUWHO JHVSURFKHQ NKgDUQ NHKUHQ /DQJH GRPLQLHUWH GDV LQ 1LHGHU VWHUUHLFKDOOJHPHLQ EOLFKH LDNKLDUQGDVDEHU KHXWH DXFK OlQJVW gd JHVSURFKHQ ZLUG 1DFKFKXQG²HFKWHP KGDVLQODXWHQGZLHLQ2EHU VWHUUHLFKXQGLPXLVSUHFKHQGHQ 7HLO GHV :DOGYLHUWHOV RIW YHUVWXPPW HUVFKHLQW LQ DOWHUW POLFKHU 0XQGDUW GLH (Q GXQJHQGHU1HQQIRUPYRQ=HLWZ UWHUQDOVD VXLDVXFKHQODLDOHLKHQ'DQH EHQZHUGHQLP3XONDXWDODOVM QJHUH6RQGHUHQWZLFNOXQJDOOH=HLWZ UWHUGLHVHV7\ SXVZLH²VHKHQ XQG²JHVFKHKHQ VgJQJVFKgJQEHKDQGHOW HVKHL WGDKHUM QJHU VXLJQI U²VXFKHQ ODLJQI U²OHLKHQ XVZ (LQHVRQVWQLUJHQGVLQGLHVHU)RUP]XEHREDFKWHQGH9HUZHFKVOXQJYRQUXQGOLVW GHQ 3XONDXWDOHUQ HLJHQ 6LH VSUHFKHQ UI UO XQG VDJHQ %XDND I U 3XONDX DOV OlJH ²3XUNDX YRUXUZLUGLQGHU 0XQGDUW ]XXD HWZD)XUW > )XDG 0DQ K UW DXFK *ZXDN*HZ ON< PKG JHZXONH XQG ²IDOVFK ZLUG DOV IDVFK DXVJHVSURFKHQ DU ZLUGLQGHU0XQGDUW]XDHWZDZDUWHQ>ZDWQ

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lJOLFKHQ9HUNHKUGHU%HZRKQHUEHQDFKEDUWHU6LHGOXQJHQ LP:DOGYLHUWHOOLH JHQGLH' UIHUEHVRQGHUVQDKHEHLHLQDQGHU GDVULQJVLP8PNUHLVVLFKLPPHUZLH GHUKROHQGH*UXQGZRUWGRUIEHUJEDFKVFKODJUHLWXVZGHU2UWVEHQHQQXQJHQ ZHJJHODVVHQZXUGHVRGDVVVLFKGHUQXQ EULJEOHLEHQGHLP*HQLWLYVWHKHQGH3HUVR QHQQDPH 3UHLQUHLFKV DOOHLQ DOV VWHKHQGH %H]HLFKQXQJ IHVWVHW]WH $OV GLH KHXWH J OWLJHQ $XI]HLFKQXQJHQ HQWVWDQGHQ ZDU GLH DOWH 9ROOIRUP EHUHLWV YHUJHVVHQ,Q PDQFKHQ)lOOHQZXUGHQGLHVHLP)DOOVWHKHQGHQ3HUVRQHQQDPHQDOV2UWVQDPHQ IlOVFKOLFKZHJHQGHVlKQOLFKHQRGHUJOHLFKHQ.ODQJHVLQDQGHUHLUJHQGZLHVLQQYROOH =XVDPPHQVHW]XQJHQXPJHGHXWHW6RNDPHV]X6FKUHLEXQJHQZLH3HUWKRO]DXVXU VSU QJOLFK3HUFKWROWV0RQLKRO]DXV0DQLJROGV*XQGKRO]DXV*XQGROWVXVZ 'DV:DOGYLHUWHOJHK UWZLHVFKRQDQJHGHXWHWWHLOVGHQXDWHLOVGHQXL0XQGDUWHQ DQVLHKH.DUWH'DVXL*HELHWLVWGDVPXQGDUWOLFKDOWHUW POLFKHUH,P*HELHWGHU ZDOGYLHUWOHULVFKHQXL0XQGDUWKDEHQVLFKZLHRIWLQGHQ$X HQJHELHWHQYLHOHDOWH /DXWXQJHQ HUKDOWHQ GLH LQ GHP GHU 'RQDX QlKHUHQ XD*HELHW DOWHU YHUNHKUV VSUDFKOLFKHU(LQIOXVVVFKRQGXUFKMXQJHHUVHW]WVLQG'HPPKG/DXWLXDOVRGHPHX E]ZLHGHU6FKULIWVSUDFKHLQ: UWHUQZLH²QHX)HXHUWHXHU XQG²IOLHJHQ]LHKHQ VFKLHEHQ HQWVSUDFK LQ GHU lowhuhq XL0XQGDUW GHU =ZLHODXW XL VRGDVV GLH RELJHQ : UWHUODXWHWHQQXL)XL GXLXQGIOXLJQ GVXLJQ VFKXLEP'D DXFKX DXV PKG XR %OXW DOV XL HUVFKLHQ XQG DXFK GLH /DXWJUXSSH XU LQ : UWHUQ ZLH ²7XUP :XUP 'XUVW XVZLQDOWHU0XQGDUWXLHUJDENRQQWHGHUPGDO/DXWXLGUHLIDFKYHUVFKLH GHQHU +HUNXQIW VHLQ )XL )HXHU < PKG YLXU %OXLG %OXW < PKG EOXRW 'XLQ7XUP<PKGWXUQ$QVWHOOHGHVXL XQWHU WUDW GDQQ GDV RL HLQHU lowhuhq 9HUNHKUVVSUDFKH0DQVDJWH)RLVWDWWlOWHUHP)XL) UXLXQWHUKDWGLH6SUDFKH GHUM QJHUHQ*HQHUDWLRQGDVYHUNHKUVVSUDFKOLFKHXD'XDUQI U²7XUP XLXQWHU KDW VLFK GDJHJHQ ZHLWJHKHQG JHKDOWHQ %OXLGI U²%OXW ) UGLH)HVWVWHOOXQJGHU HKHPDOLJHQ9HUEUHLWXQJGHV/DXWHVXLXQWHUDEHUGHUKHXWHELVDQGLH*UHQ]HQ GHV/DQGHV]XU FNJHGUlQJWE]ZY OOLJDXVJHVWRUEHQLVWHUZHLVWVLFKGHU21)HXHUV $PHLQJHKHQGVWHQKDWVLFKGDPLW:DOWHU67(,1+$86(5'LHJHQHWLYLVFKHQ2UWVQDPHQLQgVWHUUHLFK :LHQ EHIDVVW =XU.XOWXU XQG GHQ DOWHUW POLFKHQ 0XQGDUWHQ GHV :DOGYLHUWHOV YJO QHEHQ )5(,7$*VLHKH$QPDXFK+HLQULFK5$86&+(59RONVNXQGHGHV:DOGYLHUWHOV:LHQ

47 1LHGHU VWHUUHLFK EUXQQ EHL.UHPV YRQ JU WHU :LFKWLJNHLW (U EHZHLVW GDVV GHU XL/DXW XQWHU HKHPDOVDXFKDQGHU'RQDXEHKHLPDWHWZDU'DVKHXWLJH)HXHUVEUXQQKDWQLFKWVPLW GHP:RUW²)HXHU ]XWXQVRQGHUQJHKWYLHOPHKULQVHLQHPHUVWHQ%HVWDQGWHLOHQW ZHGHU DXI HLQHQ DOWHQ 31 )XR] RGHU DXI GLH %HGHXWXQJ ²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²)HXHU ZDVHEHQLQGHUKHXWLJHQDPWOLFKHQ6FKUHLEXQJ)HXHUVEUXQQ ]XP$XVGUXFNNRPPW :LHLQGHQDOWHUW POLFKHQ0XQGDUWHQGHU0LWWH2EHU VWHUUHLFKVVLQGDXFKLPQ UG OLFKHQ:DOGYLHUWHOLP,QODXWFKXQG²HFKWHV KQDFKDOWHU/lQJH=ZLHODXWLP*H ELHWGHUXL0XQGDUWHQJHVFKZXQGHQ'LHXD0XQGDUWKDWZLHGDV:LHQHULVFKHXQG GDV QLHGHU VWHUUHLFKLVFKH.HUQJHELHW XQG ZLH GHU 2VWHQ YRQ 2EHU VWHUUHLFK YRU DOOHP LQ 'RQDXQlKH GHQ FK/DXW ZLHGHUKHUJHVWHOOW 0DQ VDJW LP XL*HELHW %URD %UDFKH ODLD OHLKHQ 'VLDD ²=LHKH %HWW EHU]XJ 'UXD 7UXKH VFKEgD VSlKHQ < PKGVSžKHQ LP XD*HELHW DEHU %UFKD ODLFKD 'VLDFKD 'UXFKD VFKEgFKD'DVVHOEHJLOWDXFKI UGLHDXVODXWHQGHQFKKLQGHPVLFKVFKDL¼VFKDLFK VFKHX< PKGVFKLXKH6FKXL ¼ 6FKXDFK 6FKXK 6H¼6HFK 3IOXJPHVVHU < PKG VžFK -R¼-RFK -RFK JHJHQ EHUVWHKHQ $XFK DXVODXWHQGHV J ZLUG LQ GHU XD 0XQGDUWGHV:DOGYLHUWHOVPHLVWJHVSURFKHQZlKUHQGHVLPXL*HELHWIHKOW:HJ ¼ :H:HJ*UXDJ¼*UXL.UXJXVZ :XFKHUVHOEVWODXWHVLQGDXFKLPXLVSUHFKHQGHQ*HELHWGHV:DOGYLHUWHOVVHKUKlXILJ DQ]XWUHIIHQIROLQJDIROJHQZLDULQJDZ UJHQILDULFKWQI UFKWHQ+LDULQJVW +HUEVWXYD 'LH9RNDOLVLHUXQJGHVULVWLP:DOGYLHUWHOQRFKODQJHQLFKWLQGHP$XVPD ZLHLQ GHQ PXQGDUWOLFK ²PRGHUQHUHQ *HELHWHQ 1LHGHU VWHUUHLFKV GXUFKJHI KUW,Q GHQ : UWHUQ²%DXHU0DXHU6WHXHU)HXHU XVZVFKZLQGHWHVY OOLJ%DX0DX6FKGDL )DLGRFKVDJWPDQLPV GOLFKVWHQ6WUHLIHQDQGHU'RQDXVFKRQLP$QVFKOXVVDQGLH 9HUNHKUVVSUDFKH%DXD0DXD6FKGDLD)DLDXVZ,PQ UGOLFKHQ:DOGYLHUWHODEHULVW LQGLHVHQ: UWHUQDOV$OWHUW POLFKNHLWZLHLPREHU VWHUUHLFKLVFKHQ=HQWUDOUDXPGDV U QRFK HUKDOWHQ 0DQ NDQQ QRFK %DXU0DXU6FKGDLU)DLUXVZ K UHQ $XFK GHU VSXUORVH6FKZXQGYRQUYRUQOGHULQ2EHU VWHUUHLFKRIWQRFKDOOJHPHLQJLOWLVWEHL lowhuhq0xqgduwvsuhfkhuqqrfk]xehredfkwhq.kguq.huq.kuo.duo(od (UOH 9JO(OLVDEHWK6&+867(5'LH(W\PRORJLHGHUQLHGHU VWHUUHLFKLVFKHQ2UWVQDPHQI

48 1LHGHU VWHUUHLFK 0LW GHU ²VLQJHQGHQ 6SUHFKZHLVH GHU :DOGYLHUWOHU KlQJW HV YLHOOHLFKW ]XVDPPHQ ZHQQ GLH PKG NXU]HQ R/DXWH ]X RX YHU]ZLHODXWHW ZHUGHQ XQG PDQ 2XIDI U ²2IHQ VDJW$XFKH XXQGLZHUGHQ]X =ZLHODXWHQ 0DQVDJW NKDLPD NRPPHQ QDLPD QHKPHQ %XXGD %XWWHU ELLGQ ELWWHQ 0KG GDVR LQ : UWHUQ ZLH ²%URW 1RW WRW LQ 1LHGHU VWHUUHLFK VRQVW ]X JHZDQGHOW %UG %URW NDQQ LP $QVFKOXVVDQGDVREHU VWHUUHLFKLVFKH0 KOYLHUWHOQRFKDOV=ZLHODXWg%UgG%URW UgGURWHUVFKHLQHQ:LHLQHLQHPJUR HQ*HELHW2EHU VWHUUHLFKVJLOWDXFKLPV G OLFKHQ :DOGYLHUWHO QRFK RIW FKI UUYRUW XQG ] PDQ VDJW DXFK KLHU QRFK +gdfkwv +HU]ZDFKWZDUWHXVZ,PQ UGOLFKHQ:DOGYLHUWHOGDVMD*UHQ]ODQGJHJHQ7VFKHFKLHQKLQLVWHUVFKHLQHQLQ GHU0XQGDUWHLQLJH: UWHUWVFKHFKLVFKHU+HUNXQIW0DO QD+LPEHHUH<PDOLQDEX P OD JHPlFKOLFK < SRPDO\ 'VLVFKND 'VLWVFKND )LFKWHQ]DSIHQ < `L`ND %UDVFKQ 7DVFKH < EUD`QD 'U JDWVFK 6FKXENDUUHQ < WUDNDÄ.DO SP VFKOHFKWHV +DXV < FKDORXSD %DZO WVFKQ *HVWHOO RGHU $UW 7ULE QH < SDYODÄ %DLU4XHFNH<S\/ 'RFK YHUP JHQ GLHVH SDDU)UHPGN USHU LP:RUWVFKDW] GHV:DOGYLHUWOHULVFKHQ GDV *HSUlJHGLHVHUHFKWHQ%DXHUQPXQGDUWQLFKW]XEHHLQWUlFKWLJHQ 'DVV G VWOLFKH1LHGHU VWHUUHLFK $XIIlOOLJDQGHUVJHDUWHWDOVGLHHEHQEHKDQGHOWHQ0XQGDUWHQVLQGXQGZDUHQVHLWMH GLH0XQGDUWHQGHUV GOLFKHQ5DQGJHELHWHLQGHU%XFNOLJHQ:HOWLP:HFKVHOXQG 6FKQHHEHUJJHELHW 6LH KHEHQ VLFK YRP EULJHQ 1LHGHU VWHUUHLFK XQJHIlKU LQ GHP 0D HDEZLHVLHPLWGHP1RUGRVWVWHLULVFKHQHWZDELVLQGLH*HJHQGYRQ+DUWEHUJLQ HLQHP ]LHPOLFK HQJHQ =XVDPPHQKDQJ VWHKHQ 'LHVH *HJHQG LVW ZLH DXV GHP )RO JHQGHQKHUYRUJHKHQZLUGHLQHUVHLWVDOVDOWHUW POLFKHVQLHGHU VWHUUHLFKLVFKHV*HELHW DQGHUHUVHLWVDOVhEHUJDQJVJHELHWYRP0LWWHO]XP6 GEDLULVFKHQYRQ%HGHXWXQJ'LH KHXWLJH /DQGHVJUHQ]H LVW OHGLJOLFK HLQH SROLWLVFKH 'DV *HELHW ZXUGH ]XP *UR WHLO YRQGHU6WHLHUPDUNKHUEHVLHGHOW(UVWVHLWGHU0LWWHGHV-DKUKXQGHUWVLVWGLH0DUN 3LWWHQ PLW 1LHGHU VWHUUHLFK YHUHLQW :LH GHQ -RJOHUQ 2VWVWHLHUPlUNHUQ XQG GHQ +HDQ]HQ%XUJHQOlQGHUQLVWGHQ3UHJQHUQ VRQHQQWPDQGLH%HZRKQHUGLHVHU*H JHQG HLQH ²VLQJHQGH 6SUHFKZHLVH HLJHQ VRZLH GDV %HVWUHEHQ GLH HLQIDFKHQ 6HOEVWODXWH ]X YHU]ZLHODXWHQ GLH =ZLHODXWH DEHU LQ LKUHP ]ZHLWHQ %HVWDQGWHLO ]X GHKQHQSgLVVDEHVVHU5DRQG5DQG/DLLG/HXWH%RXGQ%RGHQ2XSVVWJXDGQ 2EVWJDUWHQ'LHVH9HU]ZLHODXWXQJNHQQW EULJHQVDXFKGLH0XQGDUWGHV VWOLFKHQ 6WHLQIHOGHV ZR PDQ HWZD IUXJQ IUDJHQ JVFKORIID JHVFKODIHQ 6FKZgLVGD 6FKZHVWHUXVZVDJW 0DQPXVVVFKRQ VHKU JHQDX KLQK UHQ XQG EHU HLQVFKOlJLJH (UIDKUXQJYHUI JHQXPLQGHU(LVHQEDKQ%XUJHQOlQGHU2VWVWHLHUPlUNHUXQG6 G RVWQLHGHU VWHUUHLFKHULKUHU$XVVSUDFKHQDFKXQWHUVFKHLGHQ]XN QQHQ :LHLP1RUGRVWHQYRQ1LHGHU VWHUUHLFKWULWWDXFKLQGHU6 GRVWHFNHGHV/DQGHVGLH 6RQGHUHQWZLFNOXQJYRQDU]XXDLQ(UVFKHLQXQJGLHLQGHP0HUNVDW]IHVWJHKDOWHQ

49 1LHGHU VWHUUHLFK LVWÃ$VLVJXDQLGZXDGDVLQ*ZLDWVVJXDGQI O-XGLVÁ(VLVWJDUQLFKWZDKUGDVV LP*HZ U]JDUWHQYLHO²-DW GHU2VWVWHLHUPDUNXQGLP%XUJHQODQGDOVXOKXOQKROHQ+XOWV+RO]'HUO/DXW LVWLP*HJHQVDW]]XPJU WHQ7HLOGHUPLWWHOEDLULVFKHQ0XQGDUWHQDXFKYRU0LWODX WHQZHQLJVWHQVDOVVFKZDFKDUWLNXOLHUWHU/DXWHUKDOWHQZDVKLHUGXUFKGHVVHQ+RFK VWHOOXQJ DXVJHGU FNW LVW :R OG :DOG +X OWV+RO]VRQVWLQ1LHGHU VWHUUHLFK :R GM QJHU:LG+RLGVPLWYHUVHOEVWODXWHWHPO'LHVHXQGDQGHUH%HVRQGHUKHL WHQ DEHU ZHUGHQ PHKU XQG PHKU YRQ GHQ /DXWXQJHQ GHV Q UGOLFKHQ )ODFKODQGHV QDFK6 GHQJHGUlQJW6RYHUVHOEVWODXWHQGLHM QJHUHQ0XQGDUWVSUHFKHUEHUHLWVGDVO Y OOLJLQGHPVLH+XLGVI U²+RO] : GI U²:DOG XVZVDJHQ :LHLP6WHLULVFKHQXQGHLQHPJUR HQ7HLOGHV6DO]EXUJLVFKHQZLUGPW]XPSJW]X N JHZDQGHOW gd QLPSHUQLPPWgD OLNHUOLHJW0LWGHPVFKRQ]LWLHUWHQ6DW] Ã.KUOPVGDQ6FKPUQ"¼-ZQDZUQZDÁFKDUDNWHULVLHUWE]ZEHVS W WHOWPDQDXFKKLHUGLH5HGHZHLVHGHUlOWHUHQ0XQGDUWVSUHFKHUGLHPLWPVGVWDWW PJVGPDJVWHLQH:RUWIRUP EHUOLHIHUWLQGHUJVRJDULQODXWHQGIHKOW'LHDOWHU W POLFKH 0XQGDUW YRQ +RFKQHXNLUFKHQ LP 6 GHQ GHU %XFNOLJHQ :HOW NHQQW GDV DXIIlOOLJHLKXOIDW LFKZ UGHKHOIHQ $XIIlOOLJ JHJHQ EHU GHP 1LHGHU VWHUUHLFKLVFKHQ DQGHUHU *HJHQGHQ LVW DXFK GHU *HEUDXFKLVROLHUWHU*HQLWLYH]%)UDLWDVIDGDRGDVPVWDV)UHLWDJVRGHUVDPV WDJVIlKUWHUDE'LHVHU6DW]PXWHWV\QWDNWLVFKJDQ]V GEDLULVFKDQHEHQVRZLH6L JgGNKLDFKD6LHJHKWLQGLH.LUFKH8PGHQ6FKQHHEHUJXQGGLH5D[DOSHVLQGEH UHLWVGLHV GEDLULVFKHQ/DXWXQJHQ6FKGgNFKQ6WHFNHQ+NFKQ+DFNH]XK UHQ ZlKUHQGPDQVRQVWLQ1LHGHU VWHUUHLFK+FND6FKGgFNDVDJW 'DVQDFK:HVWHQKLQDQVFKOLH HQGH*HELHW]ZLVFKHQ6FKQHHEHUJXQGgWVFKHUQHLJW JOHLFKIDOOV VWDUN GHU QRUGRVWVWHLULVFKHQ 6SUHFKZHLVH ]X $OV DXIIlOOLJHV 0HUNPDO GLHVHU*HJHQGJLOWGDVVFKHLQEDUY OOLJH)HKOHQGHU(QGXQJHQEHLP0LWWHOZRUWGHU 9HUJDQJHQKHLW ) U ²JHQRPPHQ JHNRPPHQ JHJDQJHQ KHL W HV KLHU YHUHLQ]HOW QRFKGQRPNKgPJQJLQGHPHQDQPE]ZQJY OOLJDQJHJOLFKHQZXUGH 'DVV GZHVWOLFKH1LHGHU VWHUUHLFK 'LH6 GZHVWHFNH1LHGHU VWHUUHLFKVGDV(LQ]XJVJHELHWGHUEHLGHQ)O VVH<EEVXQG (UODXI DXFK GLH QLHGHU VWHUUHLFKLVFKHQ (LVHQZXU]HQ JHQDQQW ZHLVW PXQGDUWOLFK VWDUNH bkqolfknhlw PLW GHQ REHU VWHUUHLFKLVFKHQ (LVHQZXU]HQ GHP *HELHW XP :H\HU DXI $XFK VRQVW KDW GDV <EEVWDO DXIIlOOLJH *HPHLQVDPNHLWHQ PLW GHP DQ JUHQ]HQGHQ 2EHU VWHUUHLFK :LH GRUW PLW $XVQDKPH GHV,QQYLHUWHOV LVW KLHU GLH 1DFKVLOEHHODXFKQDFK*DXPHQODXWHQ3DODWDOHQ]X VWOLFKGHU<EEV]X JH ZDQGHOW%LK % KHO.KFK.DFKHO EHUWUI U²1DFKWJHVFKLUU $XFKGHUGHP 6XEVWDQWLYELOGXQJ]XP9HUEXP²MlWHQ PKGMžWHQ 6RJHQDQQWHUJHPLVFKWHU.RQMXQNWLY

50 1LHGHU VWHUUHLFK 6 GRVWHQYRQ2EHU VWHUUHLFKJHOlXILJH:DQGHOYRQU]XVFKYRUWGXQG]ILQGHW VLFK KLHU PLW GHP hehujdqjvodxw D LVW MHGRFK LP $XVVWHUEHQ EHJULIIHQ )DLVFKGD )HLHUWDJ (JDVFKGQ (JHUWH 'LHVHU :DQGHO YRQ U]XVFK UHLFKWH VLFKHU HLQPDO YLHOZHLWHUQDFK1RUGHQ6RJDU*DOWEUXQQXQG(GHOEDFKEHL3XUJVWDOONDQQWHQ QRFKGLHIDOVFKHQ5 FNELOGXQJHQ+XDWQ+XVWHQXQG)LDG)LUVW,P<EEVWDOUHL FKHQ 5HVWIRUPHQ PLW VFKSZLH(DVFKSDO (UGEHHUH *DVFKWQ ²*HUWH )LFKWHQ ]ZHLJH ELV LQ GLH 3IDUUHQ 1HXKRIHQ $OOKDUWVEHUJ %LEHUEDFK :HLVWUDFK XQG 6W-RKDQQLQ(QJVWHWWHQ'LHYHUDOWHWHQ)RUPHQZDVFKWQZDUWHQcDVFKG²2UW (QGH )DLVFKGD RGHU )DVFKGD )HLHUWDJ +XDVFKG ²+ UGH JUR HV =DXQWRU IgDVFKG Y RULJHV-DKU<PKG YžUW VLQG QRFK WHLOZHLVH EHNDQQW'RFK GRPLQLHUW DQ GHU (UODXI ELV (GHOEDFK XQG DQ GHU <EEV ELV 1HXKRIHQ XQG $OOKDUWVEHUJ ZgFKWOQ ²Z UWHOQ VWUHLWHQXQGLQ:HLVWUDFK)DFKWD)HLHUWDJ ) UGLH<EEVWDOHU0XQGDUWLVWGLHHLJHQDUWLJH(QWZLFNOXQJYRQHXLQ: UWHUQ ZLH ²)HXHUKHXHUWHXHU ]XDFKDUDNWHULVWLVFKVLHODXWHQ)DKDGD'DVPKG LQ : UWHUQZLH²1RW%URWWRW LVWLP<EEVWDOQLFKWZLHLPVRQVWLJHQ1LHGHU VWHUUHLFK GXUFK HLQHQ RIIHQHQ /DXW YHUWUHWHQ %UG I U ²%URW VRQGHUQ GXUFK HLQ QRFK RIIHQHUHV YHUGXPSIWHV JHUXQGHWHV %UG (V JLOW GHPQDFK KLHU LQ GHQ DOWHQ 0XQGDUWHQQLFKWGLHJOHLFKH(QWVSUHFKXQJI UGLH: UWHU²5DW XQG²URW GLHVRQVW LQ1LHGHU VWHUUHLFKXQGLP2VWHQYRQ2EHU VWHUUHLFKUGODXWHW LP<EEVWDOODXWHW ²URW UGDEHU²5DW 5G ) U²JHZHVHQ VDJWPDQLQGLHVHU*HJHQGLQDOWHUW POLFKHU:HLVHXQGLP*HJHQVDW] ]XPDOOHUJU WHQ7HLOYRQ1LHGHU VWHUUHLFKQRFKZLHLQ2EHU VWHUUHLFKJZHQ:HVW OLFKYRQ:DLGKRIHQDQGHU<EEVLQ6FKQHFNHQOHLWHQJLEWHVVFKRQPgDI U²ZLHGHU QRFKPDOV GDVLPREHU VWHUUHLFKLVFKHQ=HQWUDOUDXPPgODXWHWXQGlKQOLFKH%HGHX WXQJKDWYJO6 $XFK I U GLH QLHGHU VWHUUHLFKLVFKHQ 5DQGJHELHWH GLH ]ZDU QRFK LQ UHLFKHU ) OOH PXQGDUWOLFKH $OWHUW POLFKNHLWHQ XQG 6RQGHUHQWZLFNOXQJHQ DXIZHLVHQ LVW GDV (LQ IOXVVJHELHW:LHQVEHUHLWV]XQHKPHQGVS UEDU:LHGLH(EHQHQLP2VWHQGHV/DQGHV XQGGDV)ODFKODQGYRUDOOHPV GOLFKGHU'RQDXKDEHQVLFKEHUHLWVDXFKGLH5DQGJH ELHWHZHQQJOHLFKQLFKWPLWMHQHU,QWHQVLWlWYRQHLQHUHFKWHQ%DXHUQPXQGDUWEHUHLWV ]X HQWIHUQHQ EHJRQQHQ $XFK LQ GHP VR ²PRGHUQ VSUHFKHQGHQ *HELHW XP :LHQ JDOWHQ DEHU QRFK XP LP :HVHQWOLFKHQ GLH 0XQGDUWYHUKlOWQLVVH ZLH PDQ VLH WHLOZHLVH KHXWH QRFK LP 1RUGRVWGRQDXUDXP LP :DOG XQG :HLQYLHUWHO DQWUHIIHQ NDQQ8PGDV-DKUKHUUVFKWHLQHLQHPZHLWDXVJU HUHQ*HELHWDOVGLHVKHXWH GHU)DOOLVWQRFKGHUXL/DXWXQGZDUGHU6FKZXQGGHVDXVODXWHQGHQJEIDVWDOOJH PHLQJ OWLJ0DQVDJWH EHUDOOQRFKGVRLJQ]LHKHQXQGIORLJQIOLHJHQZHQQQLFKW JDU GVXLJQ XQG IOXLJQ VWDWW ZLH KHXWHGVLDJQ XQG IOLDJQ $XFK GHU KHOOH D/DXW LQ : UWHUQZLHODGOHLGXQGJODQNOHLQZDUDXI:LHQDOOHLQEHVFKUlQNWQRFK NRQQWHPDQGLHQLHGHU VWHUUHLFKLVFKHQ0XQGDUWHQYRUDOOHPGLHGHU5DQGJHELHWH DOV HFKWH %DXHUQPXQGDUWHQ DQVSUHFKHQ ZHQQ VLH DXFK LP *DQ]HQ QLFKW PHKU GDV

51 1LHGHU VWHUUHLFK DOWHUW POLFKH*HSUlJHGHUREHU VWHUUHLFKLVFKHQRGHUJDUGHUVDO]EXUJLVFKHQDXIZLH VHQ :LD GH %DXDUQ QQ URZDGQ XQG GVg DQWQKPPLDVVQGLVDPHLQ*VFKORV REPDG D )RJG JZHVG GgD KG *ODX GDEHLQL JKDVVQ 'HV LV HLQJ JXDU D VFKOgFKGD 0Q JZHVG XQG GVD GL DPD :DVQNKLQDLVDUgFKGJUDXVOLJZHVG'H DPD %XLP KP PLDVVQ GH VFKZDUQ K WVVDUQ %IOLD GVDUQ XQG gd LV KLQW QFKLJQJD XQG KG PLG GD %DLGVFKQ KLQJKDXG :LD GgD VFKOgFKGH.KgUO QFKFKD JVFKGDEP LV KG DUD JUVVL /DLFKFK NKG XQG LV L GD *UXIG L GD 'UVVQKRID.KLDULQJ DLQJUEP ZUQ,GD.KLDULQJKGDQFKFKDNKDQ5XL JHEP XQG KG JZLQVOG Ã:DVQJXLG PFKG KDVVL*OXLGÁ,DWV KP GH/DLG DQ!QJVW JULDNW XQW KP JVNG GD *ODXGDEHLQLPXLVQDXVDXVGD.KLDULQJ :LDVZDGH'UXFKDE LGDKLQWDQ.KLDULQJGLDKPQDXVGURJQZ QGLVV JQGV DODQ ZLGD GVUXFNJIORJQ 1FKD KPVDVE LGDQDQ'LDEUDZ DWVLKG QLNV JQXWVVG,DWV KPV IDU^Q EDLQ + FKHWDLGD0DXDD/RDXVEURFKFKD XQGKPGH'UXFKDQDXVGDXFKW'UDXVVW KPVDVDIDQ:JQJKHEWKPILDMXQJH 5RV DLQJVFKEQG XQG KP PLG GD %DLGVFKQKLQGURVFKVFKQXQWKPGH5RV UHLQDOVVQ 'D*ODXGDEHLQL 'UDVHQKRIHQQRUG VWOLFKHV1g :LH GLH %DXHUQ QRFK URERWHQ XQG ]H KHQWHQ KDEHQ P VVHQ GD LVW HLQPDO LP 6FKORVVREHQHLQ9RJWJHZHVHQGHUKDW ².ODXGHUEHQL JHKHL HQ 'DV LVW HXFK JDU HLQ VFKOHFKWHU 0DQQ JHZHVHQ XQG ]XGHQDUPHQ:DLVHQNLQGHUQLVWHUUHFKW ²JUDXVOLFK JHZHVHQ 'LH DUPHQ %XEHQ KDEHQ P VVHQ GLH VFKZHUHQ K O]HUQHQ 3IO JH²]lUUHQ XQGHULVWKLQWHQQDFK JHJDQJHQ XQG KDW PLW GHU 3HLWVFKH KLQ JHKDXW:LHGHUVFKOHFKWH.HUOQDFKKHU JHVWRUEHQ LVW KDW HU HLQH JUR H /HLFKH JHKDEW XQG LVW LQ GHU *UXIW LQ GHU 'UD VHQKRIQHU.LUFKH HLQJHJUDEHQ ZRUGHQ,QGHU.LUFKHKDWHUQDFKKHUNHLQH5XKH JHJHEHQ XQG KDW JHZLQVHOW ²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gVWHUUHLFKLVFKHQ$NDGHPLHGHU :LVVHQVFKDIWHQ3ODWWH

52 %XUJHQODQG %XUJHQODQG $OOJHPHLQH0HUNPDOH 'DV %XUJHQOlQGLVFKH ZHQQJOHLFK KHXWH ZHLWJHKHQG YRQ GHU :LHQHU 8PJDQJVVSUD FKHXQWHUZDQGHUW]lKOW]XGHQHLJHQW POLFKVWHQ0XQGDUWHQ=ZDULP:HVHQWOLFKHQ QLFKWDOWHUW POLFKHUDOVGLHNRQVHUYDWLYHQGHUQLHGHU VWHUUHLFKLVFKHQ0XQGDUWHQLVW VLHGRFKLP7RQVRDXIIlOOLJGDVVVLHVLFKEHUHLWVQDFKHUVWPDOLJHP+ UHQQDFKKDOWLJ GHP2KUHLQSUlJWJOHLFKREPDQHVPLWHLQHP6SUHFKHUDXVGHP1RUGHQRGHUV GOL FKHUHU*HELHWH]XWXQKDW,PhEULJHQLVWGHQEXUJHQOlQGLVFKHQ0XQGDUWHQYRUDOOHP YRQGHUGLDOHNWJHRJUDSKLVFKHQ6HLWHVFKZHUEHL]XNRPPHQVW WPDQGRFKDXIGLHLQ gvwhuuhlfk HLQPDOLJH (UVFKHLQXQJ GDVV RIW HLQ]HOQH 2UWVFKDIWHQ LQVEHVRQGHUH LP 9RNDOVWDQGHUKHEOLFKYRQHLQDQGHUDEZHLFKHQXQGEHQDFKEDUWH2UWHGHXWOLFKDXVJH SUlJWH(LJHQVFKDIWHQ]HLJHQGXUFKGLHLKUH0XQGDUWHQDOVEHVRQGHUH2UWVPXQGDUWHQ NHQQWOLFK VLQG 1RFK LP -DKU OlVVW VLFK HWZD LQ *ROV YHUVFKLHGHQH $XVVSUDFKH HLQHVPLWWHOKRFKGHXWVFKHQ/DXWHVIHVWVWHOOHQ'DV:RUW²:DDJH ODXWHWEHLGHPNRQ VHUYDWLYHUHQ HYDQJHOLVFKHQ%HY ONHUXQJVDQWHLO:RX EHL GHQ DQJHSDVVWHUHQ NDWKROL VFKHQ%HZRKQHUQ:FK HLQH(LJHQW POLFKNHLWGLHGHQ*ROVHUQVHOEVWEHZXVVWLVW $XFKI U2UWVXQG6SUDFKQHFNHUHLHQYRQGHQHQVSlWHUQRFKHLQLJHDQJHI KUWZHU GHQ LVW GDV%XUJHQODQG HLQ EHVRQGHUV IUXFKWEDUHU%RGHQ%HL DOOHU 9LHOIDOW LP(LQ ]HOQHQ]HLJHQGLHEXUJHQOlQGLVFKHQ0XQGDUWHQMHGRFKLQV2KUIDOOHQGH*HPHLQVDP NHLWHQ GLH PDQ DOV W\SLVFK DQVSUHFKHQ NDQQ LP *UXQGH LVW MHGHU %XUJHQOlQGHU DQ VHLQHU6SUHFKZHLVHOHLFKW]XHUNHQQHQ$PHKHVWHQOlVVWVLFKVHLQH0XQGDUWQRFKPLW GHU GHU 2VWVWHLHUPlUNHU RGHU GHU 1LHGHU VWHUUHLFKHU GHV VWOLFKHQ 6WHLQIHOGHV YHU ZHFKVHOQGHQQZLHLP$EVFKQLWW1LHGHU VWHUUHLFKVFKRQDQJHGHXWHWIDOOHQLP+HDQ ]HQ3UHJQHUXQG-RJOODQGVRZLHLP:LQNHO6SUDFKODQGVFKDIWXQGSROLWLVFKHV*HELHW QLFKW]XVDPPHQ6RLVWGLHLP6WHLULVFKHQXQGLP:HFKVHOJHELHWJHOWHQGH9HUWUHWXQJ GHU /DXWJUXSSH RO GXUFK XO LP JDQ]HQ %XUJHQOlQGLVFKHQ YHUEUHLWHW LQGHP +XOWVV I U²+RO] *XOGI U²*ROG XVZJHVDJWZLUG )DVWDOOHEXUJHQOl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lUHQGLHLQ%HWUDFKWNRPPHQ 0LWWHO]XQJLJ QHQQW PDQ HLQHQ 6HOEVWODXW EHL GHVVHQ $UWLNXODWLRQ VLFK GLH 0LWWHO]XQJH JHJHQ GHQ +RFKJDXPHQEHZHJW

53 %XUJHQODQG GHQ6SUDFKHQ EHVLW]HQ/DXWHGLHVHU%LOGXQJVZHLVHZlKUHQGVLHDQGHUHUVHLWVDEHU LQlKQOLFKHU:HLVHDXVGHU2VWVWHLHUPDUNMDVRJDUDXV2EHU VWHUUHLFKEHNDQQWVLQG ZRYRQHLQHPIUHPGVSUDFKLJHQ(LQIOXVVQLFKWGLH5HGHVHLQNDQQ'LHVHVZ UGHDP HKHVWHQLQGHQ2UWVQDPHQ(LQJDQJJHIXQGHQKDEHQ +HLPDWNXQGOHUIU KHUHU=HLWHQZROOWHQLQGHQ%XUJHQOlQGHUQ)UDQNHQRGHU6FKZD EHQVHKHQ'DJHJHQVSULFKWDEHUYRUDOOHPGLH0XQGDUWGLHHEHQVRZHQLJ)UlQNL VFKHV RGHU 6FKZlELVFKHV ]HLJW ZLH GDV 1LHGHU VWHUUHLFKLVFKH XQG GLH VLFK EHL DOOHU (LJHQZLOOLJNHLWDOVPLWWHOEDLULVFKHE]ZV GOLFKGHU/DIQLW]XQG5DDEDOVV GEDLULVFKH 0XQGDUWLQGLH*HVDPWKHLWGHU VWHUUHLFKLVFKHQ0XQGDUWHQHLQI JWDXVJHQRPPHQ GDV9RUDUOEHUJLVFKHXQGGLHDOVXL0XQGDUWHLQH$UW6FKZHVWHUPXQGDUWGHVQRUG VWOLFKHQ1LHGHU VWHUUHLFKLVFKHQLVW 'LH UHODWLY JUR H $OWHUW POLFKNHLW GHU PLWWHOEDLULVFKHQ EXUJHQOlQGLVFKHQ 0XQG DUWHQKDWDX HULQGHU7DWVDFKHGDVVGDV%XUJHQODQGELVYRUZHQLJHQ-DKU]HKQWHQ QRFKHLQDXVJHVSURFKHQHV%DXHUQODQGZDULKUHQ*UXQGZRKOQRFKGDULQGDVVGLHVHV *UHQ]JHELHW MDKUKXQGHUWHODQJ XQWHU XQJDULVFKHU 9HUZDOWXQJ VWDQG GLH GHXWVFKH 6FKXOELOGXQJJDQ]XQ]XOlQJOLFKXQGGLH9HUELQGXQJPLWGHU.XOWXUGHVVSUDFKOLFKHQ 0XWWHUODQGHV GXUFK GLH SROLWLVFKH *UHQ]H JHKHPPW ZDU 'LHVHU 8PVWDQG NRQQWH VLFKI UGLH(UKDOWXQJGHUDOWHQ0XQGDUWQXUDOVJ QVWLJHUZHLVHQGDHVQLFKWLQGHP 0D HZLHLQGHQ*HJHQGHQGHU VWHUUHLFKLVFKHQ5HLFKVKlOIWH]XU%LOGXQJHLQHUDXV JOHLFKHQGHQ GLH HFKWH 0XQGDUW EHHLQWUlFKWLJHQGHQ 9HUNHKUVVSUDFKH NRPPHQ NRQQWH1DFKKDWVLFKGLHDXFKIU KHUVFKRQU FNJlQJLJHXL0XQGDUWGHV%XU JHQODQGHVLP1RUGHQXQGLQGHU0LWWHXQWHU:LHQHU(LQIOXVVZHLWJHKHQGYHUGUlQ JHQODVVHQVRGDVVPDQKHXWHHWZDVFKRQJHUQH3OXDGI U3OXLG%OXWJXDGI UJXLG JXW XVZ VSULFKW 6R VLQG DXFK GLH NRQVHUYDWLYHQ EXUJHQOlQGLVFKHQ 0XQGDUWHQ LQ QHXHUHU =HLW NHLQHVZHJV YRQ GHQ YHUNHKUVVSUDFKOLFKHQ 1HXHUXQJHQ XQEHHLQIOXVVW JHEOLHEHQ0DQPXVVYLHOPHKUGDYRQDXVJHKHQGDVVGHULP)ROJHQGHQKLHUGDUJH VWHOOWH/DXWVWDQGZLHHUQRFKI U* OWLJNHLWKDWWHI UEUHLWH6SUHFKHUVFKLFKWHQ QXUQRFKEHGLQJW]XWULIIW =XP/DXWVWDQGGHV%XUJHQO QGLVFKHQ (VZLUGPDQFKPDOHLQH0XQGDUWDOVHLQH²VLQJHQGH EH]HLFKQHWXQGHVLVWIUDJOLFK ZLHZHLWHLQHVROFKH4XDOLIL]LHUXQJ EHUKDXSW%HUHFKWLJXQJKDW) UGHQDXVDQGH UHQVSUDFKOLFKHQ9HUKlOWQLVVHQNRPPHQGHQ%HREDFKWHUPDJDOOHVLKP8QJHZRKQWH DQ6HOEVWODXWHQVRZLHHLQH²DQGHUH 6DW]PHORGLHHLQHQVROFKHQ(LQGUXFNKHUYRUUX IHQ.DQQVHLQGDVVGLHEXUJHQOlQGLVFKHQ0XQGDUWHQWDWVlFKOLFKPHKUDOVVRQVWHLQH VWHUUHLFKLVFKH0XQGDUW²VLQJHQ %HLGHUEHKlELJZLUNHQGHQPDQFKPDOJHGHKQWHQ 6SUHFKZHLVH GHU %XUJHQOlQGHU XQG GHP ODQJVDPHUHQ 6SUHFKWHPSR WULWW HEHQ GLH 6DW]PHORGLHGHXWOLFKHUKHUYRUZDVYRUDOOHPEHLPHLQGULQJOLFKHQ(LQUHGHQDXIHL QHQ DQGHUHQ LP *HVSUlFK EHVRQGHUV DXIIlOOLJ ZLUG 'LH DXVJHSUlJWHQ =ZLHODXWH

54 %XUJHQODQG YRUDQGLHGLHDQGHUHQ0XQGDUWHQIHKOHQZHQQHVVLFKHWZDXPHLQEHVRQGHUVEUHL WHVHL JHLPJHEHQRGHUXPHLQDL.KDLZD.lIHUKDQGHOWWUDJHQQLFKWZHQLJ]X GLHVHP²6LQJHQ EHL(LQDXFKDXVDQGHUHQ*HJHQGHQXQGLQ9DULDWLRQHQEHNDQQWHU.LQGHUUHLP KLHU DXV 1HFNHQPDUNW ZHLVW YLHOH =ZLHODXWH I U GLH H/DXWH DXI XQG ]HLJWGDVVGLH: UWHU²7URSIHQ XQG²VFKODIHQ ZHQLJVWHQVZDVGLH 6 H O E V W O D X W H DQEHODQJWUHLPHQZDVLQDQGHUHQ0XQGDUWHQQLFKWGHU)DOOVHLQN QQWH 5DLJQDUDLJQD7U RSIP WL.KLQDNDLQJDVFKO RIIP WL7LDUDQ OLJQLQ)HLGDSHLW WL3XLZDQOLJQLQ5 RVVWUHLJ WL7LDUDQHLVVQ2DULQ6FKPROWVV WL3XLZDQNULDJQD3URGDQROGV 5HJQHQUHJQHQ7URSIHQ GLH.LQGHUJHKHQVFKODIHQ GLH0lGFKHQOLHJHQLP)HGHUEHWW GLH%XEHQOLHJHQLP5RVVGUHFN GLH0lGFKHQHVVHQ(LHULQ6FKPDO] GLH%XEHQNULHJHQHLQ%URWHLQDOW V 'DVXLDEHU GDVDXIIlOOLJVWH0HUNPDOGHV%XUJHQOlQGLVFKHQ3OXLGI U²%OXW DOV 9HUELQGXQJGHV²WLHIHQ XXQGGHV²KRKHQ L/DXWHV]XHLQHP=ZLHODXWLVWDQXQG I UVLFKVFKRQGDQDFKDQJHWDQGHQ(LQGUXFNHLQHVPXVLNDOLVFKHQ,QWHUYDOOHV]XHU ZHFNHQXQGHVVFKHLQWLP0XQGHLQHV%XUJHQOlQGHUVYLHODXIIlOOLJHU]XNOLQJHQDOV LP0XQGHLQHV1LHGHU VWHUUHLFKHUV 'DVHLGHU6FKULIWVSUDFKHLQ: UWHUQZLH²EUHLWOHLG <PKGHLHUVFKHLQWZLHDOO JHPHLQLQGHQ VWHUUHLFKLVFKHQ0XQGDUWHQDOVD SUDWEUHLWODGOHLGVDZOQ JHLIHUQ<PKGVHLIHOQ'RFKNDQQI UGLHVHVHLYRUQPDXFKXDZLHHWZDLP* QV WDOHLQWUHWHQ0DQVDJWGRUW5XDQI U²5DLQ PKGUHLQ*PXDQI U²*HPHLQGH 5HLFK DQ HQWVSUHFKHQGHQ PXQGDUWOLFKHQ /DXWHQ LVW GDV %XUJHQOlQGLVFKH I U GDV PKGODQJH GDVLQ: UWHUQZLH²6FKDIEODVHQ0RKQPKGP JH%ODWWHU%ODVH $WHP XYD YRUOLHJW,Q GHQ EULJHQ VWHUUHLFKLVFKHQ 0XQGDUWHQ IlOOW GLHVHU /DXWPLWGHPPKGNXU]HQDPHLVWLQGHP/DXW]XVDPPHQEOVQEODVHQ)WD 9DWHU'DV%XUJHQOlQGLVFKHDEHUZDUWHWI UGDVODQJH ZDKUOLFKPLWHLQHU) OOH YRQ/DXWHQWVSUHFKXQJHQLQEXQWHQ6FKDWWLHUXQJHQDXI6RNDQQPDQI UGDV:RUW ²6FKDI LPQ UGOLFKHQ%XUJHQODQG6FK XI K UHQLPPLWWOHUHQ%XUJHQODQGGLH9D ULDQWH 6FK RI ZlKUHQG PDQ HWZD LP PLWWOHUHQ /DIQLW]WDO XQG LP 3LQNDWDO 6FKRXI VDJW,Q /RFNHQKDXV KHL W HV 6FK XILQ+DPPHU6FKgXI LQ *ODVK WWHQ 6FKgRI]X GHP 6FKHILQ5DWWHUVGRUIGLHDP QlFKVWHQVWHKHQGH /DXWXQJLVW grkdwdxfkghu 6HHZLQNHO'LHVHQgR/DXWJLEWHVDXFKLQ2EHU VWHUUHLFKDOOHUGLQJVLQHLQHUHWZDV DQGHUHQ.ODQJIDUEH XQG I U HLQHQ DQGHUHQ /DXW QlPOLFK I U PKG HWZDLQGHQ : UWHUQZLH²URW%URWKRFK XVZ'RFKNDQQI UPKG DXFKHLQHLQIDFKHU/DXW JHOWHQXQG]ZDUgRGHUXQGPDQWULIIWLP* QVWDOXQG5DEQLW]WDODXIGLH/DXW IRUPHQ6FKgI6FKDISOgVQEODVHQ,PXQWHUHQ/DIQLW]WDODEHULVWHLQJHVFKORVVHQHV /LHVHLQLFKWGHQKRFKVSUDFKOLFKHQ/DXWHLLQ²:HLE7HLO XVZ 'LUQHQ<PKGGLHUQH XLVWQLFKW]XOHVHQZLH XLQGHU6FKULIWVSUDFKHHWZDLQ²+lXVHU0lXVH XVZVRQGHUQDOVVHKURIIH QHUg/DXWX

55 %XUJHQODQG R YRUKHUUVFKHQG 6FKRI 'DV :RUW ²6FKDI EHJHJQHW EULJHQV DXFK LQ DQGHUHQ 0XQGDUWHQKlXILJDOV6FKRILP%XUJHQOlQGLVFKHQDEHUVLQGGLHVHRLQGHUJHQDQQWHQ *HJHQGGXUFKJHKHQG I U PKG YRUKDQGHQ XQG HV KHL W DXFK I U ²0RKQ PKG P JHHWZDLQ'HXWVFK6FK W]HQ0RJQI U²$WHP 1RWQI UPKGEO WHUH%ODVH %ODWWHU3ORWDXVZPLWJHVFKORVVHQHPR/DXW:HQQPDQVLFKGHU0 KHXQWHU]LHKW VLFKGLHEXUJHQOlQGLVFKHQ=ZLHODXWH X RgXgRGLHI U HQWVWHKHQN QQHQGHU 5HLKHQDFKODQJVDPYRU]XVSUHFKHQNRPPWHLQHPUHFKWNODU]XP%HZXVVWVHLQZLH VLHDOOHWURW]GHU8QWHUVFKLHGOLFKNHLWGHV6FKULIWELOGHVQXU9DULDQWHQHLQHVHLQ]LJHQ =ZLHODXWHVVLQG (LQH(LJHQKHLWGHV%XUJHQOlQGLVFKHQLVWHVIHUQHUGDVVGHUPKGNXU]HD/DXWLQ : UWHUQZLH²:DVHQ1DFKW XQGGHUPKGODQJH /DXWLQ²%URWKRFK HLQHU VHLWV VRZLH GHU REHQ EHVSURFKHQH PKG ODQJH /DXW XQG GHU PKG NXU]H R/DXW DQGHUHUVHLWV YRU 0LWODXWHQ GLHVHOEH PXQGDUWOLFKH (QWVSUHFKXQJ ]HLJHQ N QQHQ ²:DVHQ PKG ZDVH5DVHQ²1RW PKGQ W ODXWHQ GHPQDFK :VQ 1G²+D NHQ PKGK NH²+RI PKGKRIZHUGHQ]X+ RJQ+ RI) UMHQH0XQGDUWHQ GLHI UPKG HLQRIIHQHVgHLQWUHWHQODVVHQ6FKDI>6FKgIJLOWGDVVHOEH9HUKlOWQLV :VQ¼1G:DVHQ 1RW+gJQ¼+gI+DNHQ +RI'HVKDOEYHUVSRWWHWPDQLP * QVWDO GLH /DQJHFNHU PLW GHP 6DW] Ã,Q *ggv 1gP GVUDLVVPD G+gVQ GVgPÁ,Q *RWWHV1DPHQ]HUUHL HQZLUGLH+RVH]XVDPPHQ'HU6DW]Z UGHLQ5HFKQLW]DOVR LPPLWWOHUHQ%XUJHQODQGODXWHQ,Q* RGV 1 RP GVUDLVVPD G+ RVQ GV RP$XI IlOOLJLVWGLH(QWZLFNOXQJGHVPKGODQJHQ ]XHLQHPJHVFKORVVHQHQRLPPLWWOHUHQ /DIQLW]WDOZRHVI U²URWWRW)ORK GDQQURGGRG)ORKHL WZLHLP:LHQHULVFKHQ GDVMHGRFKVHLQRLQGLHVHQ: UWHUQDXVGHU6FKULIWVSUDFKHEH]RJHQKDWXQWHUGHUHQ (LQIOXVVGDVQLHGHU VWHUUHLFKLVFKHGDVPDQDOV]XElXULVFKHPSIDQG%UG)OI U ²%URW)ORK LQGHU*UR VWDGWGHPRZHLFKHQPXVVWH 6WDUN]XU 9 H U ] Z L H O D X W X Q J QHLJHQDXFKGLHH/DXWH1HEHQGHPQLHGHU VWHUUHL FKLVFKHQ:HFKVHOJHELHWXQGGHP VWOLFKHQ6WHLQIHOGZLUGPDQGLH'LSKWKRQJLHUXQJ DXFK QRFK LQ GHU 6WHLHUPDUN DQWUHIIHQ JQHLZOQ ²NQHEHOQ *DUEHQ ELQGHQ MHLVQ VFKlXPHQ<PKGMžVHQ6FKZHLVWD6FKZHVWHU (LGD HLQJH]lXQWHV )HOG < PKG žwhu'dvhlp=zlhodxwhlolhvhlndqqlqpdqfkhq*hjhqghq]%6hhzlqnho HLQH HUKHEOLFKH giiqxqj HUIDKUHQ VRGDVV GHU =ZLHODXW HL GDQQ VR DXVJHVSURFKHQ ZLUGZLHGDVHLGHU6FKULIWVSUDFKHXQGPDQI U²%HWW 3DLGI U²:HJ :DLVDJW:DL IlOOW GDQQ PLW GHU ZHLW YHUEUHLWHWHQ PXQGDUWOLFKHQ (QWVSUHFKXQJ I U GDV :RUW ²:HLE ]XVDPPHQ 9RU P Q DEHU VLQG DOOH H/DXWH PKG Hž LQ GHU JOHLFKHQ :HLVH]XHLE]ZDLYHU]ZLHODXWHW7HLQ7HQQHNKHLPDNRPPHQ<PKGNžPHQDL I UHYRUPQJLOWLP* QV5DEQLW]WDOPDLQDWUHLEHQOHLWHQ<PKGPHQHQQDLPD QHKPHQVFKGDLQVWHKHQ'LHVHVDLI UDOWH8PODXWHNDQQYRUOLP5DEQLW]WDO]X D]XVDPPHQJH]RJHQZHUGHQ.KDOQ.HOOHZDOQZROOHQ<PKGZHOOHQ 'LH/DXWJUXSSHHUPKGžURGHU UZLUG]XgD6FKgD0DXOZXUI<PKGVFKžU3gD (EHU<PKGE U*HKWHUDXIPKGHU]XU FNHUVFKHLQWHVHLQHUVHLWVZLHZHLWKLQLQ 1LHGHU VWHUUHLFKDOVLDQHEHQGHPDEHUDXFKHLXQGHDDQ]XWUHIIHQVLQG'LHVOlVVW

56 %XUJHQODQG VLFK HWZD DQ GHQ PXQGDUWOLFKHQ (QWVSUHFKXQJHQ I U GHQ DOWHQ :RFKHQWDJQDPHQ PKGHUWDFHUJHWDF'LHQVWDJDXI]HLJHQ,DGDVDJWHPDQLPJDQ]HQ*HELHWELV]XP * VVLQJHU+ JHOODQGV GOLFKGDYRQ,DWLLP6HHZLQNHO(LULWRLPPLWWOHUHQ%XUJHQ ODQG(DULWRLPPLWWOHUHQ3LQNDWDO(LDGDQHEHQ$LGDLQ5HFKQLW]DEHU(WD 6HOWVDPPXWHWHVDQZHQQYRUQXQGPL]XHX]XRJHVHQNWZLUGXQGI U²:LQWHU LQHLQLJHQ2UWHQ:HQWDI U²)OLQWH )OHQNQI U²KXQJULJ DEHUKPDULJHVDJWZLUG 9RUQNDQQX DUWLJNOLQJHQVRGDVVHV.O QHVVI UPKGNOXQVH6SDOWH3O QWVVQ I U²%OXQ]H %OXWZXUVWKHL WXQGI U²3OXQGHU HLQ3O QGD]XK UHQLVW+LHUKDW PDQ HV WDWVlFKOLFK PLW HLQHP DXI VWHUUHLFKLVFKHP *HELHW HLQ]LJDUWLJ GDVWHKHQGHQ /DXWZDQGHO]XWXQGHQQJHUDGHPKGLXQGPKGXVLQGLQGHQ0XQGDUWHQDPDOOHU ZHQLJVWHQ9HUlQGHUXQJHQXQWHUZRUIHQ 'HUDXFKLPQ UGOLFKVWHQ1LHGHU VWHUUHLFKVRJXWZLHDXVJHVWRUEHQHDXIHLQHQDOWHQ 'LSKWKRQJ ]XU FNJHKHQGH /DXW LX LVW QRFK PDQFKPDO GXUFK XL YHUWUHWHQ.KXL.LQQGVXLJQ]LHKHQVXLGQVLHGHQ'RFKVDJWPDQLP1RUGHQ1HXVLHGOHUXQG ZHVWOLFKHU(LVHQVWlGWHU%H]LUNXQGLP5DDEWDOOlQJVWGVLDJQVLDGQXVZ'HULQGLH VHQ: UWHUQLQ1LHGHU VWHUUHLFKQRFKYRUNRPPHQGH /DXW RHJLOWLQHLQHP*HELHW GHV5DEQLW]WDOHVGVRHJQVRHGQ,P/DIQLW]WDOVLQGYRUPPKGHLJHKHLPXQGPKG XR0XKPH<PKGPXRPHLQXD]XVDPPHQJHIDOOHQZDV$QODVV]XU3UlJXQJGHV VFKHU]KDIWHQ6DW]HVÃ,QGD.KXDPJgGGD)HLWDGVDGD0XDPÁ,P*HKHLPHQJHKW GHU9HWWHU]XGHU0XKPHZDU,P 6 GHQ LQ -HQQHUVGRUI XQG 8PJHEXQJ ILQGHW VLFK I U GHQ PKG ODQJHQ /DXW EHUHLWV GLH V GEDLULVFKH (QWVSUHFKXQJ D PDQ VDJW GRUW EHUHLWV UDW I U²URW 6FKGUDI U²6WURK )ODFKI U²)ORK ZLH EHUKDXSWZLHQRFK]XVHKHQLVWGDV *HELHW V GOLFK GHU /DIQLW] XQG 5DDE EHUHLWV PHKUHUH V GEDLULVFKH 0HUNPDOH DXI ZHLVW 'LH 0 L W O D X W H VLHVLQGJOHLFKIDOOVLP*UR HQXQG*DQ]HQDXIPLWWHOEDLULVFKHP 6WDQG ]HLJHQZLHGLH6HOEVWODXWHPDQFKH%HVRQGHUKHLWHQGLHLQDQGHUHQ0XQGDU WHQQXUVHOWHQRGHUJDUQLFKWDQ]XWUHIIHQVLQG%HLHLQHP9HUJOHLFKPLWGHQQLHGHU VWHUUHLFKLVFKHQ 0XQGDUWHQ IlOOW GLH HQWVFKLHGHQHUH $UWLNXODWLRQ GHU DQODXWHQGHQ 0LWODXWHLQGHQEXUJHQOlQGLVFKHQ0XQGDUWHQDXIRKQHGDVVMHGRFKZLHLP6 GEDLUL VFKHQ HLQH 6FKHLGXQJ QDFK DOWHQ 6WDUN XQG 6FKZDFKODXWHQ EHREDFKWHW ZHUGHQ N QQWH0DQVFKUHLEWLP$QODXWSWGLHMHGRFKQLFKWDOVDXVJHVSURFKHQH6WDUNODXWH ]XOHVHQVLQG9RQGHQQLHGHU VWHUUHLFKLVFKHQ0XQGDUWHQLVWEHNDQQWGDVVHWZDGLH : UWHU ²'DFK XQG ²7DJ LQ GHP *HELHW ZR FK J LP $XVODXW YHUVWXPPHQ RGHU GXUFKFKQHXHUVHW]WVLQGLQGHU/DXWIRUP'FK]XVDPPHQIDOOHQ,P%XUJHQODQG HUJLEW VLFK HLQ =XVDPPHQIDOO PHKU ]XJXQVWHQ GHV W XQG VR JLOW DXI GHP JHVDPWHQ *HELHW7I U²'DFK XQG²7DJ PLWHLQHPLQGHU6WlUNHPHKUJHJHQWKLQQHLJHQ GHQ/DXW,P,QODXWLVWWLP$OOJHPHLQHQJHVFKZlFKWZRUGHQXQGPLWG]XVDPPHQJH 9JO GD]X +DQV.$51(5 /DXWOHKUH GHU KLHQ]LVFKHQ 0XQGDUW YRQ 5HFKQLW] XQG 8PJHEXQJ :LHQ 6

57 %XUJHQODQG IDOOHQ 'LH 0XQGDUWHQ LP 5DDEWDO LP XQWHUHQ XQG PLWWOHUHQ /DIQLW]WDO VRZLH LP 6WUHPEDFKWDOXQWHUVFKHLGHQDEHULP,QODXW]ZLVFKHQGXQGW:HLWD:HWWHU<PKG ZžWHU)XLWD)XWWHU<PKGYXRWHU3UXLGD%UXGHU<PKGEUXDGHU/HLGD/HGHU <PKGOžGHU =X GHQDXIIlOOLJVWHQ%HVRQGHUKHLWHQGHUEXUJHQOlQGLVFKHQ0LWODXWH ]lkow ]XQlFKVW GHU:DQGHOYRQDQODXWHQGHPSI]XNILPV GOLFKHQ%XUJHQODQGZRPDQ.IOXLI U ²3IOXJ.IDWI U²3IHLW +HPG<PKGSIHLW.ILQJVVWDI U²3ILQ]WDJ 'RQQHUVWDJ <PKGSILQ]WDFVDJWH(LQHDXIIlOOLJH(UZHLFKXQJYRQS]XGHP5HLEHODXWZLQ GHUDQODXWHQGHQ/DXWJUXSSHVSILQGHWVLFKLP3LQND:LOOHU6WUHPEDFKXQGREH UHQ/DIQLW]WDOZR]%²6SHFN 6FKZHLJ²VSLHOHQ VFKZ OQKHL W'DVDOWH:RUWI U 0XWWHUPLOFKDXIPKGVS QQH]XU FNJHKHQGODXWHWGDQQ6FKZLQ,PPLWWOHUHQXQG V GOLFKHQ %XUJHQODQG ZLUG I QDFK 6HOEVWODXWHQ KlXILJ ]X Z.KDLZD.lIHU 6FKZHLZO 6FKZHIHO 'LHVH (UVFKHLQXQJ KHEW GDV %XUJHQOlQGLVFKH VWDUN YRQ GHQ DQGHUHQ 0XQGDUWHQ DE,Q UHFKW DXIIlOOLJHU :HLVH JHKW LQ GHQ 0XQGDUWHQ LP /DI QLW]6WUHPEDFKXQG:LOOHUWDOQQDFKEHVWLPPWHQ6HOEVWODXWHQLQP EHUHLQH(U VFKHLQXQJGLH EULJHQVDXFKLP6WHLULVFKHQ]XEHPHUNHQLVW0DQVDJWDOVR+PG I U²+DQG WPWVVQI U²WDQ]HQ 6XPWLI U²6RQQWDJ KPDULI U²KXQJULJ 0LWGHP)HKOHQYRQJFKLPKHXWLJHQ$XVODXW.IOXLI U²3IOXJ :DLI U²:HJ /DLI U²/HLFKH XVZVWLPPWGDV%XUJHQODQGYLHOHQRUWVPLWGHQDOWHQQLHGHU VWHU UHLFKLVFKHQXL0XQGDUWHQ EHUHLQ 'HU O/DXW LVW QRFK QLFKW LQ GHP 0D H YRNDOLVLHUW ZLH LQ GHQ EULJHQ PLWWHOEDLUL VFKHQ0XQGDUWHQGDULQVWHKHQYRUDOOHPGLH0XQGDUWHQGHVPLWWOHUHQXQGV GOLFKHQ %XUJHQODQGHV ZR PDQ QRFK ROG VWDWW ggdow6doq VWDWW 6D Q 6lXOH VDJW GHP 6 GEDLULVFKHQQlKHU,PQ UGOLFKHQ%XUJHQODQGDEHUXQWHUOLHJWOPHKUXQGPHKUGHU 9RNDOLVLHUXQJ 'LHVH (UVFKHLQXQJ JHZLQQW XQWHU GHP (LQIOXVV GHV 1LHGHU VWHUUHL FKLVFKHQDQ%RGHQYRU.RQVRQDQWHQRGHULP$XVODXWLVWOPDQFKPDOQXUQRFKEHL GHQlOWHUHQ0XQGDUWVSUHFKHUQ]XK UHQ 'HU U/DXW LVW ZLH LQ 1LHGHU VWHUUHLFK DXI GHP JHVDPWHQ *HELHW DX HU LP $QODXW RGHU ]ZLVFKHQ 6HOEVWODXWHQ PHLVW DXIJHO VW -D-DKUYHUHLQ]HOWLP$XVODXWDOV VFKZDFKHV U HQWKDOWHQ -DU 6HHZLQNHO -XDU 5DWWHUVGRUI LP * QVWDO :LH LQ 2EHU VWHUUHLFKXQGLQDOWHUW POLFKHQ0XQGDUWHQ1LHGHU VWHUUHLFKVIHKOWGDVUPHLVW Y OOLJYRUQOPDQVDJWGDQQ.KgUQ.HUQKgUQK UHQ.KgUO.HUOXVZ,Q 'HXWVFK 6FK W]HQ NDQQ DQODXWHQGHV EUZLH3OPSD I U ²%URPEHHUH ]HLJW ]X SO ZHUGHQ,P 6HHZLQNHO ]% LQ 0 QFKKRI HUVFKHLQW UQ DOVGQ 6FKWRGQ I U 6FKWDUOQLQ6LQJXQG3OGHU%H]HLFKQXQJI UGHQ9RJHO6WDU'LHVJLOWDXFKKHXWH QRFK ZHQQ ]XU 9HUWUHLEXQJ GHU ]XU =HLW GHU :HLQOHVH VHKU VFKlGOLFKHQ 9 JHO VR JHQDQQWH6FKWRGQIOLDJD²6WDUHQIOLHJHU HLQJHVHW]WZHUGHQGLHGLH$XIJDEHKDEHQ GLHYRULKUHP$EIOXJLQV GOLFKHUH/lQGHUVLFKKLHULQGHQ:HLQJlUWHQQLHGHUODVVHQ GHQ6WDUHDXI]XVFKHXFKHQXQG]XYHUMDJHQ :LH VFKRQ DQJHGHXWHW ELOGHW GLH /DIQLW] PHKU QRFK GLH 5DDE LQQHUKDOE GHV %XU JHQOlQGLVFKHQHLQH'LDOHNWJUHQ]H6 GOLFKGDYRQVW WPDQEHUHLWVDXIV GEDLULVFKH

58 %XUJHQODQG 0HUNPDOH+LHULVWDQODXWHQGHVNDXFKYRUOUEHKDXFKWHU6WDUNODXWHVKHL W.KUDV I U².UHLV.KOgI U².OHH ZlKUHQGLQ1LHGHU VWHUUHLFK*UDV*OgJHVDJWZLUG $XFKLP,QXQG$XVODXWZRLP0LWWHOEDLULVFKHQMHGH%HKDXFKXQJGHVNIHKOWLVWVLH LP %XUJHQODQG V GOLFK GHU /DIQLW] XQG 5DDE YRUKDQGHQ 0DQ VSULFKW DOVR KLHU ²VWDUN DOV VFKGDNK ²VWlUNHU DOV VFKGLDNKD 9RQ GHQ 6HOEVWODXWHQ GHV *HELHWHV Q UGOLFKGHU/DIQLW]YHUPLVVWPDQKLHUGDVXLLQ: UWHUQZLH²%OXWJXW XVZ'DKHU QHQQHQGLH%HZRKQHUV GOLFKGHU/DIQLW]MHQHQ UGOLFKGHV)OXVVHVGLH7XLGDUDXQG HVLVWGHUEHNDQQWH1HFNVDW]GHQHVZRKO EHUDOODQGHQXDXL*UHQ]HQJLEWDXFK KLHU JHEUlXFKOLFK GHU GD ODXWHW Ã0XLWD GD 3XL VFKONWL.KXL PLGQ +XLW WDV ROV SWVFKDQ WXLWÁ 0XWWHU GHU %XE VFKOlJW GLH.XK PLW GHP +XW GDVV HV QXU VR SDW VFKHQ>NODWVFKHQ@WXW %HVRQGHUKHLWHQLQGHQ7LHUQDPHQ,Q GHQ EXUJHQOlQGLVFKHQ 0XQGDUWHQ NRPPHQ ]DKOUHLFKH ODXWOLFKH 9DULDQWHQ YHU VFKLHGHQHU 7LHUQDPHQ YRU GLH GLH 9LHOIDOW GLHVHU 0XQGDUWHQ EH]HXJHQ 6R ILQGHW VLFKHWZDGDV:RUW²(LGHFKVH QDFK+DQV.$51(5 LPQ UGOLFKHQ%XUJHQODQGDOV $GDNVVO7DGDUDNVVO7DGDQDNVVO7DUDKDNVVOcGDUDNVVOLQGHU0LWWHGHV/DQGHVLVW $GDGUDNVVO GLH KHUUVFKHQGH )RUP LP 6 GHQ NDQQ PDQ $GDNVVO $GDGUDNVVO cdgdnvvolp/diqlw]xqg5ddewdodehu$glnvvq$glnvvoxqg$glnvvwk UHQ 'LHLQGHQ VWHUUHLFKLVFKHQ0XQGDUWHQ EHUKDXSWUHLFKYRUKDQGHQHQ6SLHODUWHQGHV :RUWHV ²:HVSH ZHUGHQ LP %XUJHQODQG QRFK GXUFK HLQLJH EHUHLFKHUW :HLNVVQ :HLSVVQKHL WHVLP1RUGHQ:HLSVWQLP6HHZLQNHO:HLGDGHNVVQNDQQPDQLP3LQ NDWDO:HLGLNVVQ:HLGLNVVWXQGYHUHLQ]HOW:LDULNVLP/DIQLW]XQG5DDEWDOK UHQ 'LH+RUQLVVHQHQQWPDQLPQ UGOLFKHQ7HLOGHV/DQGHV:XLKDXV+XLQDXV+XLQDXV VDXQG:XLQDXVDLQ5HFKQLW]XQG8PJHEXQJ'HU6WRUFKDEHUGHUYRUZLHJHQGLP %XUJHQODQGQLVWHWWULWWEXUJHQOlQGLVFKDOV6FKGDULPLWDOWHP:XFKHUVHOEVWODXWXQG GDPLW]ZHLVLOELJDXI )R ROGQ 'VDLGQ KPV SDQLQV LQ /X NDKDXVDQLDUD.OgRNQNKDQ.ODFKFKO NKSW 7gR KgRG LPDUDQD DIP.KLD UDWXLQ VFKWDLJQ PXLVVQ XQG SDQ )DLQVWD DXVVLVFKUDLQ 'LH.ODFKFKOWLDSP /RFNHQKDXV6 GEXUJHQODQG 9RU DOWHQ =HLWHQ KDEHQ VLH EHL XQV LQ /RFNHQKDXV LQ LKUHU *ORFNH NHLQHQ 6FKZHQJHO JHKDEW 'D KDW LPPHU HLQHU DXI GHQ.LUFKHQWXUP VWHLJHQ XQG EHLP )HQVWHUKLQDXVVFKUHLHQP VVHQ +DQV.$51(5'LH0XQGDUWHQGHV%XUJHQODQGHV6 1DFK-RVHI6((0h//(5'HXWVFKH0XQGDUWHQ,,,:LHQ6 ².ODFKHO <PKGNO FKHOEHGHXWHWQHEHQ²*ORFNHQVFKZHQJHO DXFK²JUR HUGHUEHU0HQVFK

59 %XUJHQODQG Ã.OHQNONODQNO VFKOgGD6FKODQNO NKDLPSVVGVHP LODLWGVHPÁ +LDWV LV gdqd WV PLG WD 'VDLW GVWXP JZDWQ +LDWV VDLQV D W+NVFKWUVV NKHQJD XQG KEP WXDW DQ.ODFKFKO NVFKGRXOQ 6DLW WgDUD 'VDLG KDVVQ W/XNDKDXVDWL.ODFKFKOWLDSP ².OHQNONODQNO VFKOHFKWHU6FKODQNO NRPPW]XVDPPHQ LFKOlXWH]XVDPPHQ -HW]W QXQ LVW LKQHQ GDV GRFK PLW GHU =HLW ]X GXPP JHZRUGHQ -HW]W GD VLQG VLH DXI GLH +RFKVWUD JHJDQJHQ XQG KDEHQ GRUW HLQHQ 6FKZHQJHO JHVWRKOHQ 6HLWGLHVHU=HLWKHL HQGLH/RFNHQKDXVHU GLH6FKZHQJHOGLHEH 'RUIEHL/RFNHQKDXV

60 2EHU VWHUUHLFK 2EHU VWHUUHLFK =XU&KDUDNWHULVWLN (UVWVHLWGHU$QJOLHGHUXQJGHV,QQYLHUWHOVLVWGDVYRQGHQ%DMXZDUHQDOWEH VLHGHOWH 2EHU VWHUUHLFK HLQH 9HUZDOWXQJVHLQKHLW 6HLQH %HY ONHUXQJ KDW DOVR QDFK /DQGVFKDIW XQG *HVFKLFKWH HLQH YHUVFKLHGHQDUWLJH (QWZLFNOXQJ JHQRPPHQ :DV DEHU GLH,QQYLHUWOHU LP :HVWHQ GLH +DXVUXFNYLHUWOHU LP DOWHQ =HQWUDOUDXP GLH 0 KOYLHUWOHUQ UGOLFKGHU'RQDXXQGGLH7UDXQYLHUWOHULP6 GRVWHQKHXWHIHVWYHU ELQGHW LVW GLH WLHIH ElXHUOLFKH +HUNXQIW GLH GLH 2EHU VWHUUHLFKHU DXI GHP JDQ]HQ *HELHWIDVWLQJOHLFKHU:HLVHNHQQ]HLFKQHW,QQYLHUWOHU5R XQG7URiG 0 KOYLHUWOHU)ODFKVXQG*MRiG +DXVUXFNHU2EVWXQG6FKPDO] 7UDXQYLHUWOHU6DO].$.DOWHQEUXQQHU :HQQPDQGHQ2EHU VWHUUHLFKHUQIU KHUQHEHQ]lKHP)OHL XQG$XVGDXHUEHVRQ GHUV6SDUVDPNHLWQDFKJHVDJWKDWGDQQGDUIGDVIUHLOLFKQLFKWDOV.OHLQOLFKNHLWYHU VWDQGHQZHUGHQGHQQKDXVQ²KDXVHQ PLW9HUQXQIWVSDUHQLVWHWZDVDQGHUHVDOV UXDFK OQJHL]LJ]XVDPPHQUDIIHQ<PKGUXRFKHQEHGDFKWVHLQ0DQOlVVWVLFKGLH $XVJHVWDOWXQJ YRQ +DXV XQG +RI HWZDV NRVWHQ XQG ZQV HV GUJG ²ZHQQ V HV WUlJW DOVRRKQH6FKDGHQI UGDV+DXVZHVHQHUVFKZLQJOLFKLVWNDQQPDQEHL*HOH JHQKHLWDXFKDZgQJZVDXVOVVQ²HLQZHQLJHWZDVDXVODVVHQ JUR ] JLJHUVHLQ 'HUGHP3UDNWLVFKHQ]XJHZDQGWH%DXHUZLUGDEHUQLFKWJUR GDYRQUHGHQPDFKHQ 0DQGgDIgDPQHGJODLRHVVQNKgQDOVVQ0DQGDUIVLFKQLFKWDOOHVJOHLFKDQPHUNHQ ODVVHQ VDJW PDQ LP +DXVUXFNYLHUWHO 'HU 9RUZXUI GHU,QQYLHUWOHU GHQ VLH LKUHP VWOLFKHQ1DFKEDUQPDFKHQGD/DQGOD+DXVUXFNYLHUWOHUKGGVZD+gFKWVNKDQ JXDGVXQGDQVFKOgFKWVGHU/DQGOHUKDEH]ZHL+HU]HQNHLQJXWHVXQGHLQVFKOHFK WHV PDJ DXI HLQHQ DOWHQ JHVFKLFKWOLFK EHJU QGHWHQ XQG ODQJH VFKRQ EHJUDEHQHQ =ZLVW]XU FN]XI KUHQVHLQ,P,QQYLHUWHOZRGHU6DW]JHSUlJWZXUGHNDPHVZRKO DXFK ]XQlFKVW DXI HLQHQ JXWP WLJHQ JHUHLPWHQ 6SRWW DQ PLW GHP HLQH (LJHQW P OLFKNHLWLQGHU6SUDFKHGHV/DQGOHUVFKDUDNWHULVLHUWZHUGHQVROOWH VWDWWUZLHQRFK ]X]HLJHQVHLQZLUGVSULFKWGHU/DQGOHULQEHVWLPPWHQ)lOOHQLPPHUFK $OV ODQJH =HLW IDVW DXVVFKOLH OLFK DJUDULVFKHV *HELHW KDWWH 2EHU VWHUUHLFK KDXSW VlFKOLFK%DXHUQDOV%HZRKQHU'LH6WlGWHGLHKLHU9HUNHKUV]HQWUHQELOGHQ DEJH VHKHQYRQ/LQ]6WH\U:HOV KDEHQHLQH(LQZRKQHU]DKOYRQPHLVWXQWHU6R 7UDG*HWUHLGHZ UWO²ZDVGHU%RGHQWUlJW <PKGJHWUHJHGH*HWUDJHQHV *MDG-DJG8QUXKH$XIUHJXQJ<PKGJHMHJHGHGDV]XJHMHLGHNRQWUDKLHUWZXUGH

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lOWQLVVHQ]XHUVHKHQ,Q M QJHUHU=HLWDEHUGULQJHQPDQFKHQLHGHU VWHUUHLFKLVFKHDOV²IHLQHU JHOWHQGH/DX WXQJHQLQGHQREHU VWHUUHLFKLVFKHQ2VWHQHLQ 'HU /DXWLQ2EHU VWHUUHLFK 0LWVHLQHQ(QWVSUHFKXQJHQI URDEHULQ: UWHUQZLH²%URW1RWJUR XVZPKG JHKWGDV2EHU VWHUUHLFKLVFKHDXIZHLWHP*HELHWQRFKJDQ]HLJHQH:HJHJHJHQ EHUGHQQLHGHU VWHUUHLFKLVFKHQ0XQGDUWHQ:lKUHQGGHU2VWHQGHV/DQGHVV GOLFK GHU'RQDXPLWVHLQHP%UG%URWGHP1LHGHU VWHUUHLFKLVFKHQIROJWEHJHJQHQLQ GHU0LWWHGHV/DQGHVLP6 GHQLP:HVWHQVRZLHLP0 KOYLHUWHOI UGLHVHQR/DXW GLH=ZLHODXWHggX1DFK.DUWHJDOWgXPLP+DXVUXFNYLHUWHO/DQGO XQGVHW]WHVLFK EHUGLH'RQDXKLQZHJLPPLWWOHUHQXQGQRUGZHVWOLFKHQ0 KOYLHUWHO IRUW $XFK LP Q UGOLFKHQ 6DO]NDPPHUJXW *PXQGQHU *HJHQG ZXUGH g JHVSUR FKHQ X KDEHQ GDV,QQYLHUWHO XQG GDV V GOLFKH 6DO]NDPPHUJXW,P QRUG VWOLFKHQ 0 KOYLHUWHODEHUKHUUVFKWHgZLHV GOLFKYRQ5RKUEDFK:RPKG LQ2EHU VWHU UHLFKYHU]ZLHODXWHWZLUGHUVFKHLQWDXFKPKGNXU]HVRMHGRFKQXUYRUUXQGFKDXV JHUPKDOV=ZLHODXW: UWHUZLH²'RUI7RFKWHU ODXWHQMHQDFKGHP*HELHW'gI 'gi 'XIE]Z'gFKGD 'gfkgd 'XFKGD 'LH ]HQWUDOREHU VWHUUHLFKLVFKH g =RQH LVW DXFK VRQVW GLH PXQGDUWOLFK NRQVHUYDWLYVWH XQG YHUELQGHW DOV HLQH %U FNH VSUDFKOLFKHU%HKDUUOLFKNHLWGDV$OSHQODQGGXUFKPDQFKH(UVFKHLQXQJPLWGHPV G OLFKHQ % KPHUZDOG.DUWH ]HLJW GLH JHJHQZlUWLJHQ 9HUKlOWQLVVH GXUFK GLH $XI QDKPHQI UGHQ²6SUDFKDWODVYRQ2EHU VWHUUHLFK ²/DQGO LVWGLHDOWH%H]HLFKQXQJI UGDV.HUQJHELHW2EHU VWHUUHLFKVLQVEHVRQGHUHGDV+DXVUXFNDEHU DXFKGDV7UDXQYLHUWHO]XP8QWHUVFKLHGYRPELVED\ULVFKHQ,QQYLHUWHOXUVSU QJOLFKG UIWHHVVLFK XPHLQH6SRWWEH]HLFKQXQJJHKDQGHOWKDEHQ=XP%HJULII²/DQGOHU YJODXFK:LOIULHG6&+$%86'LH /DQGOHU 6SUDFK XQG.XOWXUNRQWDNW LQ HLQHU DOW VWHUUHLFKLVFKHQ (QNODYH LQ 6LHEHQE UJHQ 5XPlQL HQ:LHQ 9JO6WHIDQ*$,6%$8(5'HU6SUDFKDWODVYRQ2EHU VWHUUHLFK/LQ]6

62 2EHU VWHUUHLFK.$57( 'HU /DXWLQ2EHU VWHUUHLFK XQJHIlKUH$EJUHQ]XQJXP Ried LINZ Kremsmünster Steyr Gmunden Enns Donau Traun X Donau X Ischl X g Freistadt g g g X g %URW%UXG%UgG%UgG%UGQDFK+$$6%$8(5 'LHREHU VWHUUHLFKLVFKHQ0XQGDUWHQ

63 2EHU VWHUUHLFK.$57( 'HU /DXWLQ2EHU VWHUUHLFK XQJHIlKUH$EJUHQ]XQJXP Ried Kremsmünster Gmunden Freistadt LINZ Enns Donau Traun Donau 3X À Ischl F HR R R RL R 1DFK'HU6SUDFKDWODVYRQ2EHU VWHUUHLFK6$2 9HUVWUHXWH%HOHJHPLWRL 3ZLUGPLWWHOJDXPLJlKQOLFKGHPRIIHQHQJHVSURFKHQ

)DNXOWlW;9,,I U*HRZLVVHQVFKDIWHQGHU5XKU8QLYHUVLWlW%RFKXP (LQ,QWHUQHW'HVWLQDWLRQVLQIRUPDWLRQVV\VWHP ]XU0DUNWNRPPXQLNDWLRQLP7RXULVPXVPDUNHWLQJ *UXQGODJHQ.RQ]HSWLRQXQGH[HPSODULVFKH5HDOLVLHUXQJ PLWHLQHU:HE*,66RIWZDUH

Mehr

%YXSV1MGLEIP6EMXL %YJPEKIZSQ7ITXIQFIV %HQMRMWXVEXMSR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSV1MGLEIP6EMXL %YJPEKIZSQ7ITXIQFIV %HQMRMWXVEXMSR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, -7%% %YXSV1MGLEIP6EMXL %YJPEKIZSQ7ITXIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ

Mehr

%YXSV;SPJKERK1YWGLRIV -RLEPXPMGLIW0IOXSVEX7MPOI/ERIW %YXSQEXMWMIVYRK4VSKVEQQMIVYRK F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSV;SPJKERK1YWGLRIV -RLEPXPMGLIW0IOXSVEX7MPOI/ERIW %YXSQEXMWMIVYRK4VSKVEQQMIVYRK F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, ;;4 %YXSV;SPJKERK1YWGLRIV -RLEPXPMGLIW0IOXSVEX7MPOI/ERIW %YJPEKIZSQ.ERYEV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

Microsoft Exchange Server 2003 EXS2003A. Autor: Dr. Hendrik Siegmund. Überarbeitete Ausgabe vom 10. August 2006

Microsoft Exchange Server 2003 EXS2003A. Autor: Dr. Hendrik Siegmund. Überarbeitete Ausgabe vom 10. August 2006 EXS2003A Autor: Dr. Hendrik Siegmund Überarbeitete Ausgabe vom 10. August 2006 by HERDT-Verlag für Bildungsmedien GmbH, Bodenheim Microsoft Exchange Server 2003 Administration Internet: www.herdt4you.de/.at/.ch

Mehr

%YXSVMR8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX*VERO7GLEFIVX +VYRHPEKIR)(:QMX;MRHS[W YRH3JJMGI F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSVMR8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX*VERO7GLEFIVX +VYRHPEKIR)(:QMX;MRHS[W YRH3JJMGI F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +3 %YXSVMR8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX*VERO7GLEFIVX %YJPEKIZSQ3OXSFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

%YXSVMRRIR&EVFEVE,MVWGL[EPH%RHVIE7GL[EV^ F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSVMRRIR&EVFEVE,MVWGL[EPH%RHVIE7GL[EV^ F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, //-28-) %YXSVMRRIR&EVFEVE,MVWGL[EPH%RHVIE7GL[EV^ %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

%YXSV.ÚVKIR)RKIQERR -RLEPXPMGLIW0IOXSVEX)PQEV*YGLW F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, 7]WXIQEHQMRMWXVEXMSR

%YXSV.ÚVKIR)RKIQERR -RLEPXPMGLIW0IOXSVEX)PQEV*YGLW F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, 7]WXIQEHQMRMWXVEXMSR 27% %YXSV.ÚVKIR)RKIQERR -RLEPXPMGLIW0IOXSVEX)PQEV*YGLW %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

Viele, die die Offenbarung

Viele, die die Offenbarung t[.:«e[ U[œ «~U t Diese sind's, die gekommen sind aus der großen Trübsal und haben ihre Kleider gewaschen und haben ihre Kleider hell gemacht im Blut des Lammes. Darum sind sie vor dem Thron Gottes und

Mehr

kommt. Deshalb bemüht sich Satan, dieses Buch für die Menschen versiegelt

kommt. Deshalb bemüht sich Satan, dieses Buch für die Menschen versiegelt [Ÿ«Ÿ z ²t[U[œc Und ich sah den Himmel aufgetan; und siehe, ein weißes Pferd. Und der darauf saß, hieß: Treu und Wahrhaftig, und er richtet und kämpft mit Gerechtigkeit. Und seine Augen sind wie eine Feuerflamme,

Mehr

%YXSV4IXIV8VSTJ/EVPWVYLI +VYRHPEKIR'SQTYXIV%MHIH(IWMKR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSV4IXIV8VSTJ/EVPWVYLI +VYRHPEKIR'SQTYXIV%MHIH(IWMKR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %' %YXSV4IXIV8VSTJ/EVPWVYLI %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW

Mehr

Einlagensicherungssysteme Ökonomische Analyse unterschiedlicher institutioneller Ausgestaltungsformen

Einlagensicherungssysteme Ökonomische Analyse unterschiedlicher institutioneller Ausgestaltungsformen Einlagensicherungssysteme Ökonomische Analyse unterschiedlicher institutioneller Ausgestaltungsformen Dr. Ute Merbecks*/ Diplom-Kauffrau Gabriela Bauer-Behrschmidt** Diskussionsbeitrag Nr. 297 2000 * Wissenschaftliche

Mehr

%YXSV6EPJ/ÔLPIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIRHIV&MPHFIEVFIMXYRK JÚV;IF7IMXIR

%YXSV6EPJ/ÔLPIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIRHIV&MPHFIEVFIMXYRK JÚV;IF7IMXIR -6 %YXSV6EPJ/ÔLPIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ MR

Mehr

%YXSV6SPERH&EYGL F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %HQMRMWXVEXMSR

%YXSV6SPERH&EYGL F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %HQMRMWXVEXMSR --7 %YXSV6SPERH&EYGL %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ MR

Mehr

Microsoft Windows Server 2003 W2003SPS. Autoren: Michael Raith, Dr. Hendrik Siegmund. Überarbeitete Ausgabe vom 10. August 2006.

Microsoft Windows Server 2003 W2003SPS. Autoren: Michael Raith, Dr. Hendrik Siegmund. Überarbeitete Ausgabe vom 10. August 2006. W2003SPS Autoren: Michael Raith, Dr. Hendrik Siegmund Microsoft Windows Server 2003 Überarbeitete Ausgabe vom 10. August 2006 by HERDT-Verlag für Bildungsmedien GmbH, Bodenheim Support: Server Internet:

Mehr

%YXSVMR8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR

%YXSVMR8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR 78; %YXSVMR8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI

Mehr

%YXSV;SPJKERK7GLYP^'2-1'2) -RLEPXPMGLIW0IOXSVEX,ERW4IXIV.ELR'2-'2)1'7) F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIRJÚV%R[IRHIV

%YXSV;SPJKERK7GLYP^'2-1'2) -RLEPXPMGLIW0IOXSVEX,ERW4IXIV.ELR'2-'2)1'7) F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIRJÚV%R[IRHIV +; %YXSV;SPJKERK7GLYP^'2-1'2) -RLEPXPMGLIW0IOXSVEX,ERW4IXIV.ELR'2-'2)1'7) %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX

Mehr

)'(0;7*4%8 %YXSVMR0MRHE=SVO -RLEPXPMGLIW0IOXSVEX&EVFEVE,MVWGL[EPH F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX

)'(0;7*4%8 %YXSVMR0MRHE=SVO -RLEPXPMGLIW0IOXSVEX&EVFEVE,MVWGL[EPH F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX )'(0;7*4%8 %YXSVMR0MRHE=SVO -RLEPXPMGLIW0IOXSVEX&EVFEVE,MVWGL[EPH %YJPEKIZSQ1EM F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX [[[LIVHXZLWHIEX (EW )'(00SKS MWXIMRIIMRKIXVEKIRI

Mehr

'LH:LHGHUNXQIW-HVX. Auferstehung der Gläubigen

'LH:LHGHUNXQIW-HVX. Auferstehung der Gläubigen (LQOHLWXQJ 'LH:LHGHUNXQIW-HVX Zeugen Jehovas glauben, dass die Wiederkunft Jesu schon stattgefunden hat, und zwar im Jahr 1914. Diese war nur für Zeugen Jehovas sichtbar (geistlich, nicht wirklich), nicht

Mehr

Anlage EÜR. Einnahmenüberschussrechnung nach 4 Abs. 3 EStG für das Kalenderjahr 2011 Beginn Ende

Anlage EÜR. Einnahmenüberschussrechnung nach 4 Abs. 3 EStG für das Kalenderjahr 2011 Beginn Ende 1 2 Name/Gesellschaft/Gemeinschaft/Körperschaft Vorname 2011 Anlage EÜR Bitte für jeden Betrieb eine gesonderte Anlage EÜR einreichen! 3 4 5 (Betriebs-)Steuernummer Einnahmenüberschussrechnung nach 4 Abs

Mehr

WXPS. Windows XP Professional - Systembetreuer: Workstation WXPS 00-0-00-75-63. Autoren: Werner Hand, Dr. Hendrik Siegmund, Dr.

WXPS. Windows XP Professional - Systembetreuer: Workstation WXPS 00-0-00-75-63. Autoren: Werner Hand, Dr. Hendrik Siegmund, Dr. WXPS Windows XP Professional - Systembetreuer: Workstation WXPS 00-0-00-75-63 Autoren: Werner Hand, Dr. Hendrik Siegmund, Dr. Wolfram Titz 3. Auflage vom 14. Oktober 2004 by HERDT-Verlag für Bildungsmedien

Mehr

$XV]XJDXVÄ6R]LDOUDXPDQDO\VH³

$XV]XJDXVÄ6R]LDOUDXPDQDO\VH³ $XV]XJDXVÄ6R]LDOUDXPDQDO\VH³ YRQ )UDQN0HUNHO &DULWDVYHUEDQG'RUWPXQGH9,QWHJUDWLRQVDJHQWXU LP%HUQKDUG0lU]+DXV 2VWHUODQGZHKU± 'RUWPXQG 7HO )D[ (0DLOPHUNHO#FDULWDVGRUWPXQGGH ZZZFDULWDVGRUWPXQGGH 'LH'RUWPXQGHU6WDGWEH]LUNHVLHKH$QODJH

Mehr

&00 'DV3%6DUFKLYHDGGRQ5 GHU (LQNDXIVEHOHJH %HQXW]HUKDQGEXFK .RPSDWLEHO]X6$355HOHDVH 9HUVLRQ. 6WDQG0lU]

&00 'DV3%6DUFKLYHDGGRQ5 GHU (LQNDXIVEHOHJH %HQXW]HUKDQGEXFK .RPSDWLEHO]X6$355HOHDVH 9HUVLRQ. 6WDQG0lU] &00 'DV3%6DUFKLYHDGGRQ5 GHU (LQNDXIVEHOHJH %HQXW]HUKDQGEXFK.RPSDWLEHO]X6$355HOHDVH 9HUVLRQ 6WDQG0lU] &00'DV3%6DUFKLYHDGGRQGHU(LQNDXIVEHOHJH%HQXW]HUKDQGEXFK,QKDOW 9RUZRUW]XU9HUVLRQ 'DV3%6$UFKLYLHUXQJVNRQ]HSW

Mehr

%YXSV;SPJKERK7GLYP^'2-1'2) -RLEPXPMGLIW0IOXSVEX,ERW4IXIV.ELR'2-'2)1'7) %HQMRMWXVEXMSR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSV;SPJKERK7GLYP^'2-1'2) -RLEPXPMGLIW0IOXSVEX,ERW4IXIV.ELR'2-'2)1'7) %HQMRMWXVEXMSR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, 23%( %YXSV;SPJKERK7GLYP^'2-1'2) -RLEPXPMGLIW0IOXSVEX,ERW4IXIV.ELR'2-'2)1'7) %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX

Mehr

%YXSV4IXIV8IMGL -RLEPXPMGLIW0IOXSVEX&IEXI1ENIXWGLEO -RXIKVMIVXI0ÔWYRKIRQMX3JJMGI<4 F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSV4IXIV8IMGL -RLEPXPMGLIW0IOXSVEX&IEXI1ENIXWGLEO -RXIKVMIVXI0ÔWYRKIRQMX3JJMGI<4 F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, :&% %YXSV4IXIV8IMGL -RLEPXPMGLIW0IOXSVEX&IEXI1ENIXWGLEO %YJPEKIZSQ(I^IQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

:HUGHQ ZLU QDFK GHP JHULFKWHW ZDV ZLU LQ GLHVHP /HEHQ JHWDQ KDEHQ RGHU QDFK GHPZDVZLUZlKUHQGGHU-DKUHWXQ"

:HUGHQ ZLU QDFK GHP JHULFKWHW ZDV ZLU LQ GLHVHP /HEHQ JHWDQ KDEHQ RGHU QDFK GHPZDVZLUZlKUHQGGHU-DKUHWXQ 'LH-DKUH :DV=HXJHQ-HKRYDV EHUGLH-DKUHOHKUHQ Die Schlacht Harmagedon sind der Beginn der 1000 Jahre. Die Erde wird verwüstet. Das gegenwärtige System der Dinge vergeht. Nur diejenigen, die Gott dienen,

Mehr

Barbara Hofmann THE BEAUTY TOOLS COMPANY. BEAUTY TOOLS and Make-up Guide

Barbara Hofmann THE BEAUTY TOOLS COMPANY. BEAUTY TOOLS and Make-up Guide Barbara Hofmann THE BEAUTY TOOLS COMPANY BEAUTY TOOLS and Make-up Guide Liebe Barbara Hofmann Kundin, lieber Barbara Hofmann Kunde, wir haben uns lange Gedanken darüber gemacht, wie wir Sie noch besser

Mehr

&6%5$66 &RPSDFW3&,:LGH8OWUD6&6,+RVWDGDSWHU &6%5$66 $QRUGQXQJ6WHFNYHUELQGHU

&6%5$66 &RPSDFW3&,:LGH8OWUD6&6,+RVWDGDSWHU &6%5$66 $QRUGQXQJ6WHFNYHUELQGHU 3URGXNWLQIRUPDWLRQ 6%5$66 RPSDFW3, Š :LGH8OWUD66,+RVWDGDSWHU Dokument Nr. 1756 Edition 03/2001 'HU6%5$66YRQ(.)LVWHLQXQLYHUVHOOHU DXIGHPRPSDFW3, Š 6WDQGDUGEDVLHUHQGHU :LGH8OWUD66,+RVWDGDSWHUJHHLJQHW]XP

Mehr

Anmeldung und Registrierung 1.1 So registrieren Sie sich für den Onlineshop So melden Sie sich im Onlineshop an

Anmeldung und Registrierung 1.1 So registrieren Sie sich für den Onlineshop So melden Sie sich im Onlineshop an 1 Anmeldung und Registrierung 1.1 So registrieren Sie sich für den Onlineshop... 4 1.2 So melden Sie sich im Onlineshop an... 4-5 2 Artikelsuche im Onlineshop 2.1 Die Artikelsuche... 6 2.2 Die Unterschiede

Mehr

5RXWHD$XIVWLHJ]XP=HXV*LSIHOE]Z=HXV+ KOH

5RXWHD$XIVWLHJ]XP=HXV*LSIHOE]Z=HXV+ KOH 5RXWHD$XIVWLHJ]XP=HXV*LSIHOE]Z=HXV+ KOH 6WUHFNH Agía Marína (Αγ α Μαρ να) - Zeus-Gipfel (ZEYS oder ZAS), Höhle (σπηλι - Filóti (Φιλ τι); ca. 8-9 km.duwh Die Naxos-Karte von Anavasi editions (M 1:40000)

Mehr

0-2 %YXSV1EVOYW*IMPRIV /SEYXSV%VRI&ÂYQPIV ºFIVEVFIMXIXI%YWKEFIZSQ.ERYEV 2IX^[IVOEHQMRMWXVEXMSR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

0-2 %YXSV1EVOYW*IMPRIV /SEYXSV%VRI&ÂYQPIV ºFIVEVFIMXIXI%YWKEFIZSQ.ERYEV 2IX^[IVOEHQMRMWXVEXMSR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, 0-2 %YXSV1EVOYW*IMPRIV /SEYXSV%VRI&ÂYQPIV ºFIVEVFIMXIXI%YWKEFIZSQ.ERYEV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

Schreiben nach Hören Schreiben nach Gehör Lesen durch Schreiben

Schreiben nach Hören Schreiben nach Gehör Lesen durch Schreiben Schreiben nach Hören Schreiben nach Gehör Lesen durch Schreiben Fragen und Antworten zum Schreiben mit einer Anlauttabelle Von Liebe Kollegen und Kolleginnen, liebe Eltern, liebe Interessierte! Da es immer

Mehr

RUNDSCHREIBEN DIE STEUERBERATER

RUNDSCHREIBEN DIE STEUERBERATER DIE STEUERBERATER RUNDSCHREIBEN VOGELSTELLE R KAUFMANN Sehr geehrte Damen und Herren, Nichtanwendungserlasse hat das Bundesfinanzministerium in den letzten Jahren zwar seltener erlassen, aber im Fall der

Mehr

Gott ist liebevoll, vergebungsbereit,

Gott ist liebevoll, vergebungsbereit, :œ :k[u ~ «~U Ut[ Ÿt[G[~ *{:k[~ ŸNr Ÿ[t~ 4 {z ª Und ich sah ein andres Zeichen am Himmel, das war groß und wunderbar: sieben Engel, die hatten die letzten sieben Plagen; denn mit ihnen ist vollendet der

Mehr

Herzlich willkommen auf unserer neuen Internetseite

Herzlich willkommen auf unserer neuen Internetseite uedost-news.de Dr. Peter Ramsauer Bundesverkehrsminister: Die neue Internetseite hat ein frisches und ansprechendes Design. Und die Inhalte haben die gleiche journalistische Qualität wie die Printausgabe.

Mehr

'LH0HGHVGHXWVFKHQ3LORWHQ:LOOL6HZW] $EJHVW U]WDP0lU]EHL.OHLQRWWZHLOHU

'LH0HGHVGHXWVFKHQ3LORWHQ:LOOL6HZW] $EJHVW U]WDP0lU]EHL.OHLQRWWZHLOHU -1- 'LH0HGHVGHXWVFKHQ3LORWHQ:LOOL6HZW] $EJHVW U]WDP0lU]EHL.OHLQRWWZHLOHU YRQ.ODXV=LPPHU Sehr ausführlich wissen wir aber Bescheid über einen Absturz, der sich in der Nacht vom 15. auf den 16. März 1944

Mehr

%YXSVIR.SEGLMQ4EPPQIV,IMOS7GLVÔHIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %HQMRMWXVEXMSR

%YXSVIR.SEGLMQ4EPPQIV,IMOS7GLVÔHIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %HQMRMWXVEXMSR %;7 %YXSVIR.SEGLMQ4EPPQIV,IMOS7GLVÔHIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP

Mehr

Dr. Hans Peter Bilek Ganzheitlicher Therapieansatz in der Behandlung von Schizophrenie

Dr. Hans Peter Bilek Ganzheitlicher Therapieansatz in der Behandlung von Schizophrenie Dr. Hans Peter Bilek Ganzheitlicher Therapieansatz in der Behandlung von Schizophrenie Einleitung Die Diagnose Schizophrenie bedeutet für den Betroffenen meist seinen sozialen Tod. Begriffe wie Drehtür-Psychiatrie,

Mehr

5. Anleihebedingungen und Garantie

5. Anleihebedingungen und Garantie 5. Anleihebedingungen und Garantie 5.1 Anleihebedingungen Anleihebedingungen (die "Anleihebedingungen") 1 1HQQEHWUDJXQG6WFNHOXQJ9HUEULHIXQJ9HUZDKUXQJhEHUWUDJEDUNHLW 1. Nennbetrag. Die Anleihe der SANHA

Mehr

Baldachin Bern. Eröffnung Mai 2008

Baldachin Bern. Eröffnung Mai 2008 Bauherrschaft: Projektverfasser: Stadt Bern, Direktion für Verkehr und Tiefbau, Tiefbauamt NBSDIXFMM t #43 "SDIJUFLUFO t "UFMJFS Planergemeinschaft Neuer Bahnhofplatz Bern Baldachin Bern Stadtplanungsamt

Mehr

Nr. 51/ Dezember

Nr. 51/ Dezember Nr. 51/52 23. Dezember 2011 www.autobild.de 97 G6IItIHG:EDGI '%&& & Audi AUTO BILD-Umfrage R ckschritt durch Rost Audi A6: Korrosion an mehreren Stellen Totalausf lle bislang erspart. Allerdings

Mehr

Jahreslosung Jahreslosung Ja, Gott ist meine Rechnung: IHM will ich vertrauen und niemals verzagen.

Jahreslosung Jahreslosung Ja, Gott ist meine Rechnung: IHM will ich vertrauen und niemals verzagen. Jahreslosung 2002 Ja, Gott ist meine Rechnung: IHM will ich vertrauen und niemals verzagen. Jesaja 12.1 Jahreslosung 2003 Ein Mensch sieht, was vor Augen ist; der Herr aber sieht das Herz an. 1. Sam 16.7

Mehr

Rütistein -( '( # Einsteiger Ski- oder Splitboardtour für Frauen Mit kurzer LVS Einführung

Rütistein -( '( # Einsteiger Ski- oder Splitboardtour für Frauen Mit kurzer LVS Einführung Rütistein Einsteiger Ski- oder Splitboardtour für Frauen Mit kurzer LVS Einführung &( #! (( -( '( # ()" ' "( ) & " # '( #+ ", #" ( & ", #" ( & INFOS ZUR TOUR Für einmal geht es nicht mit der Luftseilbahn

Mehr

'HU:HUWXQHUI OOWHU: QVFKH

'HU:HUWXQHUI OOWHU: QVFKH (LQOHLWXQJ %LEHOVWXQGH EHUGDV/HEHQYRQ'DYLG±7HLO Ein Abschied schmerzt immer, auch wenn man sich schon lange darauf freut. Arthur Schnitzler David hat sich bestimmt ein anderes Leben gewünscht. Als Bezwinger

Mehr

%YXSVIR&EVFEVE,MVWGL[EPH;SPJ;MPG^IO -RLEPXPMGLIW0IOXSVEX*VERO7GLEFIVX %YJPEKIZSQ.ERYEV +VYRHPEKIR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ

%YXSVIR&EVFEVE,MVWGL[EPH;SPJ;MPG^IO -RLEPXPMGLIW0IOXSVEX*VERO7GLEFIVX %YJPEKIZSQ.ERYEV +VYRHPEKIR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ 30 %YXSVIR&EVFEVE,MVWGL[EPH;SPJ;MPG^IO -RLEPXPMGLIW0IOXSVEX*VERO7GLEFIVX %YJPEKIZSQ.ERYEV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHXGSQ %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ

Mehr

SKULPTUR IN BISSEE GALERIE UND LANDSCHAFT

SKULPTUR IN BISSEE GALERIE UND LANDSCHAFT Pressemappe 2011 Bissee. Kieler Nachrichten 23.04.2011 Bremer Schule,,Bewegung 04322/3360. Holsteinischer Courier 18.05.2011 Kieler Nachrichten 21.05.2011 Bissee lockt wieder mit Skulpturenschau Hund und

Mehr

ELTERNBRIEF. Berlin, Juli 2002 Nr. 64. Ein jegliches hat seine Zeit, und alles Vorhaben unter dem Himmel hat seine Stunde:

ELTERNBRIEF. Berlin, Juli 2002 Nr. 64. Ein jegliches hat seine Zeit, und alles Vorhaben unter dem Himmel hat seine Stunde: ELTERNBRIEF Berlin, Juli 2002 Nr. 64 Ein jegliches hat seine Zeit, und alles Vorhaben unter dem Himmel hat seine Stunde: geboren werden hat seine Zeit, sterben hat seine Zeit; weinen hat seine Zeit, lachen

Mehr

Xpert Europäischer ComputerPass. Ulrike Böttcher, Charlotte von Braunschweig, Dirk Frischalowski, Konrad Stulle, Tina Wegener

Xpert Europäischer ComputerPass. Ulrike Böttcher, Charlotte von Braunschweig, Dirk Frischalowski, Konrad Stulle, Tina Wegener Xpert Europäischer ComputerPass Ulrike Böttcher, Charlotte von Braunschweig, Dirk Frischalowski, Konrad Stulle, Tina Wegener 1. Ausgabe, 2. Aktualisierung, Juli 2011 Textverarbeitung Pro (mit Office Word

Mehr

&KULVWRSK%XWWHUZHJJH +DUW]JHVWHUQ±+DUW]KHXWH.RQWLQXLWlWVOLQLHQXQG.RQVHTXHQ]HQHLQHU3ROLWLNJHJHQGHQ 6R]LDOVWDDW

&KULVWRSK%XWWHUZHJJH +DUW]JHVWHUQ±+DUW]KHXWH.RQWLQXLWlWVOLQLHQXQG.RQVHTXHQ]HQHLQHU3ROLWLNJHJHQGHQ 6R]LDOVWDDW &KULVWRSK%XWWHUZHJJH +DUW]JHVWHUQ±+DUW]KHXWH.RQWLQXLWlWVOLQLHQXQG.RQVHTXHQ]HQHLQHU3ROLWLNJHJHQGHQ 6R]LDOVWDDW Diskussionen über das Zweite SGB-II-Änderungsgesetz, das Hartz-IV- Fortentwicklungsgesetz und

Mehr

KRAFTFELD-ANALYSE FÜR. Arnold Schwarzenegger , 04:10 Uhr CEDT Österreich, Graz

KRAFTFELD-ANALYSE FÜR. Arnold Schwarzenegger , 04:10 Uhr CEDT Österreich, Graz KRAFTFELD-ANALYSE FÜR Arnold Schwarzenegger 30.07.1947, 04:10 Uhr CEDT Österreich, Graz RESSOURCENKRAFTFELD 8KU&('7gVWHUUHLFK*UD] 7\S63(=,$/,67,1 (QHUJLHPRGXV%HIULHGLJHQGHUXQGZLUNXQJVYROOHU(LQVDW]GHUHLJHQHQ6FKDIIHQVNUDIW.UDIWIHOG&KDUDNWHULVWLNRIIHQELVDXWDUN

Mehr

3URGXNWLQIRUPDWLRQ. Dokument Nr Edition 03/2001 &6)/87( 8OWUD6&6,+RVWDGDSWHU

3URGXNWLQIRUPDWLRQ. Dokument Nr Edition 03/2001 &6)/87( 8OWUD6&6,+RVWDGDSWHU 3URGXNWLQIRUPDWLRQ &6)/87( &RPSDFW3&, Š 8OWUD6&6,+RVWDGDSWHU Dokument Nr. 1886 Edition 03/2001 'HU&6)/87( YRQ(.) LVW HLQ XQLYHUVHOOHU DXIGHP&RPSDFW3&, Š 6WDQGDUGEDVLHUHQGHU 8OWUD 6&6, +RVWDGDSWHU JHHLJQHW

Mehr

,QKDOW $QUXIHQ $QUXISURWRNROO (LQVWHOOXQJHQ 2QOLQH'LHQVWH 1HXH1RWL] ,KU(ULFVVRQ5H 'RNXPHQWDWLRQ,QIRUPDWLRQHQXQG &RPPXQLFDWLRQV6XLWH&'

,QKDOW $QUXIHQ $QUXISURWRNROO (LQVWHOOXQJHQ 2QOLQH'LHQVWH 1HXH1RWL] ,KU(ULFVVRQ5H 'RNXPHQWDWLRQ,QIRUPDWLRQHQXQG &RPPXQLFDWLRQV6XLWH&' ,QKDOW (LQOHLWXQJ,KU(ULFVVRQ5H 'RNXPHQWDWLRQ,QIRUPDWLRQHQXQG &RPPXQLFDWLRQV6XLWH&' %HYRU6LHWHOHIRQLHUHQ &KHFNOLVWH %HWULHEVPRGL 'HU$NNX 'LH6,0.DUWH (LQXQG$XVVFKDOWHQ *HVFKORVVHQH.ODSSH *H IIQHWH.ODSSH

Mehr

/LHEH7XUQXQG6SRUWIUHXQGH

/LHEH7XUQXQG6SRUWIUHXQGH 9RUZRUW /LHEH7XUQXQG6SRUWIUHXQGH 'LH $XVJDEH GHU 7X6,QIR LVW JOHLFK]HLWLJ GDV -XELOlXPVKHIW I U GDV MlKULJH %HVWHKHQ XQVHUHV 9HUHLQV 1DFK GHP JUR HQ (UIROJ GHV Ä(UVWHQ 'lpphu %HVFKIHVWHV³ LP YHUJDQJHQHQ

Mehr

Bauknecht AG, Industriestrasse 36, 5600 Lenzburg,

Bauknecht AG, Industriestrasse 36, 5600 Lenzburg, Gebrauchsanweisung BLPE 8009 Bauknecht AG, Industriestrasse 36, 5600 Lenzburg, www.bauknecht.ch Verkauf Telefon 0848 801 002 Fax 0848 801 017 verkauf@bauknecht.ch Kundendienst Telefon 0848 801 001 Fax

Mehr

Embedded Quality. Qualitätssicherung eingebetteter Software: Methoden und Best-Practices

Embedded Quality. Qualitätssicherung eingebetteter Software: Methoden und Best-Practices Embedded Quality Qualitätssicherung eingebetteter Software: Methoden und BestPractices FUSIM Prof. Dr.Ing. K. Bender, Dipl.Ing. P. Jack, Dipl.Ing. A. Koç, Dipl.Ing. I. Péter, Dipl.Ing. G. Megyeri Informationstechnik

Mehr

)'(0%1 %YXSVMRRIR'LEVPSXXIZSR&VEYRWGL[IMK3VXVYR+VMPP -RLEPXPMGLIW0IOXSVEX7EFMRI7TMI½ F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

)'(0%1 %YXSVMRRIR'LEVPSXXIZSR&VEYRWGL[IMK3VXVYR+VMPP -RLEPXPMGLIW0IOXSVEX7EFMRI7TMI½ F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, )'(0%1 %YXSVMRRIR'LEVPSXXIZSR&VEYRWGL[IMK3VXVYR+VMPP 8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX7EFMRI7TMI½ %YJPEKIZSQ3OXSFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL

Mehr

Inhalt. Ariane Sommer. 1. Hollywood-Rawstyle. Karyn Calabrese. 2. Fit und vital mit 65. Judita Wignall. 3. Going Raw

Inhalt. Ariane Sommer. 1. Hollywood-Rawstyle. Karyn Calabrese. 2. Fit und vital mit 65. Judita Wignall. 3. Going Raw Inhalt 1. Hollywood-Rawstyle Ariane Sommer 6 2. Fit und vital mit 65 Karyn Calabrese 10 3. Going Raw Judita Wignall 14 4. 8. Erfurter Rohkosttag - diesj. Motto: mit Thomas Reinholz "Muskelaufbau mit Rohkost

Mehr

9HUEUDXFKHUNUHGLWH)UDJHQXQG$QWZRUWHQ

9HUEUDXFKHUNUHGLWH)UDJHQXQG$QWZRUWHQ 0(02 Brüssel, den 14. November 2002 9HUEUDXFKHUNUHGLWH)UDJHQXQG$QWZRUWHQ 'LH(XURSlLVFKH.RPPLVVLRQKDWDP6HSWHPEHUHLQHQ9RUVFKODJI U HLQH QHXH 9HUEUDXFKHUNUHGLW5LFKWOLQLH DQJHQRPPHQ VLHKH,3 $XI GHU7DJXQJGHV5DWHV:HWWEHZHUEDP1RYHPEHUZHUGHQGLH0LQLVWHULQ

Mehr

%YXSVIR9PVMOI&ÔXXGLIV(MVO*VMWGLEPS[WOM F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %YXSQEXMWMIVYRK4VSKVEQQMIVYRK

%YXSVIR9PVMOI&ÔXXGLIV(MVO*VMWGLEPS[WOM F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %YXSQEXMWMIVYRK4VSKVEQQMIVYRK ;;4 %YXSVIR9PVMOI&ÔXXGLIV(MVO*VMWGLEPS[WOM %YJPEKIZSQ.ERYEV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP

Mehr

%YXSV6EPJ/ÔLPIV -RLEPXPMGLIW0IOXSVEX+ISVK;IMLIVIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK

%YXSV6EPJ/ÔLPIV -RLEPXPMGLIW0IOXSVEX+ISVK;IMLIVIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK 474 %YXSV6EPJ/ÔLPIV -RLEPXPMGLIW0IOXSVEX+ISVK;IMLIVIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

%HVWH :HUWH I¼U GLH )DPLOLH

%HVWH :HUWH I¼U GLH )DPLOLH 1U _ $XJXVW $Q]HLJH 6HLWH 0DUNVWHLQ.RQ]LO 7ROOH )DPLOLHQ =HOWSO W]H 6HLWH 3UHLVYHUG FKWLJH %¼FKHU %HVWH :HUWH I¼U GLH )DPLOLH 6HLWH )DPLOLHQ -RXUQDO -XQL 1U 1U :LH GHU ]HKQM KULJH 3KLOLS VHLQH %HKLQGHUXQJ

Mehr

Dokument Nr Edition 03/2001. CX1-BAND * Dual CAN Controller

Dokument Nr Edition 03/2001. CX1-BAND * Dual CAN Controller 3URGXNWLQIRUPDWLRQRQ &;%$1',QWHOOLJHQWHU'XDO&$1%&RPSDFW3&, Š +RVWDGDSWHU Dokument Nr. 1890 Edition 03/2001 $XIGHP&RPSDFW3&, Š 6WDQGDUGEDVLHUWGHU &;%$1' HLQ LQWHOOLJHQWHU &$1 )HOGEXVFRQWUROOHU PLW ]ZHL

Mehr

VERNEHMLASSUNGSBERICHT DER REGIERUNG BETREFFEND DIE ABÄNDERUNG DES GESETZES ÜBER DAS URHEBERRECHT UND

VERNEHMLASSUNGSBERICHT DER REGIERUNG BETREFFEND DIE ABÄNDERUNG DES GESETZES ÜBER DAS URHEBERRECHT UND VERNEHMLASSUNGSBERICHT DER REGIERUNG BETREFFEND DIE ABÄNDERUNG DES GESETZES ÜBER DAS URHEBERRECHT UND VERWANDTE SCHUTZRECHTE (LGBL. 1999 NR. 160) (UMSETZUNG DER RICHTLINIE 2012/28/EU) Ministerium für Inneres,

Mehr

%YXSV/EVP,IMR^;EGLPIV -RLEPXPMGLIW0IOXSVEX(MVO*VMWGLEPS[WOM.SEGLMQ4EPPQIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR4VSKVEQQMIVYRK

%YXSV/EVP,IMR^;EGLPIV -RLEPXPMGLIW0IOXSVEX(MVO*VMWGLEPS[WOM.SEGLMQ4EPPQIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR4VSKVEQQMIVYRK 34 %YXSV/EVP,IMR^;EGLPIV -RLEPXPMGLIW0IOXSVEX(MVO*VMWGLEPS[WOM.SEGLMQ4EPPQIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX

Mehr

das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte

das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte www.augce.de, das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte %9' %YXSV4IXIV8VSTJ/EVPWVYLI -RLEPXPMGLIW0IOXSVEX1EVG7GLIVIV %YJPEKIZSQ2SZIQFIV

Mehr

HOCHMOMENT- SCHRAUBTECHNIK

HOCHMOMENT- SCHRAUBTECHNIK HOCHMOMENT- SCHRAUBTECHNIK Stand: 02.2018 INHALT TECHNISCHE DATEN 3URGXNWXQG/HLVWXQJVEHUVLFKW... 3 Elektronik-Schrauber Elektronik-Schrauber E-RAD BLU-Standard-... 4-5 Elektronik-Schrauber E-RAD BLU-S-Sensorgesteuert-...

Mehr

Microsoft Office Project für Windows PRO2003. Autor: Peter Wies. Inhaltliches Lektorat: Sabine Spieß. Überarbeitete Ausgabe vom 29.

Microsoft Office Project für Windows PRO2003. Autor: Peter Wies. Inhaltliches Lektorat: Sabine Spieß. Überarbeitete Ausgabe vom 29. PRO2003 Autor: Peter Wies Inhaltliches Lektorat: Sabine Spieß Überarbeitete Ausgabe vom 29. Januar 2009 HERDT-Verlag für Bildungsmedien GmbH, Bodenheim Internet: www.herdt.com Microsoft Office Project

Mehr

%YXSVMR'LEVPSXXIZSR&VEYRWGL[IMK -RLEPXPMGLIW0IOXSVEX4IXIV;MIW F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR(IWOXST4YFPMWLMRK

%YXSVMR'LEVPSXXIZSR&VEYRWGL[IMK -RLEPXPMGLIW0IOXSVEX4IXIV;MIW F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR(IWOXST4YFPMWLMRK 49 %YXSVMR'LEVPSXXIZSR&VEYRWGL[IMK -RLEPXPMGLIW0IOXSVEX4IXIV;MIW %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI

Mehr

Verschenken oder vererben?

Verschenken oder vererben? Anwalts-u. Steuerkanzlei /W]RZ &ROOHJH 78199 BrŠunlingen Tel. 0771/9222-0 www.kanzlei-luetzow.de Verschenken oder vererben? )UGLH)UDJHREHVVLQQYROOHULVWHLQHQ7HLOVHLQHV9HUP JHQVEHUHLWV]X/HE]HLWHQ]X YHUVFKHQNHQ

Mehr

H ausbrief =HLWXQJ I U GLH %HZRKQHU XQG )UHXQGH GHV +DXVHV ͲͳȀ ʹͲͳ ò

H ausbrief =HLWXQJ I U GLH %HZRKQHU XQG )UHXQGH GHV +DXVHV ͲͳȀ ʹͲͳ ò Hausbrief Im Zeichen des Frühlings Nun endlich spitzt vor meinem Haus der erste Frühlingsgruß heraus: Ein kleines Krokuspärchen erzählt sein Frühjahrsmärchen in meinem kleinen Garten, lang musste ich

Mehr

Kundeninformation. ÖKOMETRIC GmbH. ÖKOMETRIC GmbH Kontakt :Horst Rottler Bernecker Str. 17-21 D-95448 Bayreuth F rottler@oekometric.

Kundeninformation. ÖKOMETRIC GmbH. ÖKOMETRIC GmbH Kontakt :Horst Rottler Bernecker Str. 17-21 D-95448 Bayreuth F rottler@oekometric. ÖKOMERIC GmbH Kundeninformation 1HXH*UHQ]ZHUWHI U'LR[LQHXQGGLR[LQlKQOLFKH3&%LQ /HEHQVXQG)XWWHUPLWWHOQ $P)HEUXDUYHU IIHQWOLFKWHGLH(XURSlLVFKH.RPPLVVLRQHUZHLWHUWH*UHQ]ZHUWHI U 'LR[LQH3&''3&')XQGGLR[LQlKQOLFKH3&%LQ/HEHQVPLWWHOQ9(525'181*(*

Mehr

das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte

das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte www.augce.de, das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte %9' %YXSV4IXIV8VSTJ/EVPWVYLI -RLEPXPMGLIW0IOXSVEX1EVG7GLIVIV ºFIVEVFIMXIXI%YWKEFIZSQ.ERYEV

Mehr

23 Prävention in NRW. Fußball in der Schule

23 Prävention in NRW. Fußball in der Schule 23 Prävention in NRW Fußball in der Schule Prävention in NRW 23 Fußball in der Schule Liebe Leserin, lieber Leser die Sprache macht es uns oft nicht leicht, weibliche und männliche Formen gut lesbar in

Mehr

laszif der luzerner alternativszenen-intensifotokrimi das raetselhafte Verschwinden der Nixen und Coolios Teil 4/4

laszif der luzerner alternativszenen-intensifotokrimi das raetselhafte Verschwinden der Nixen und Coolios Teil 4/4 2 laszif der luzerner alternativszenen-intensifotokrimi das raetselhafte Verschwinden der Nixen und Coolios Teil 4/4 Was bisher geschah: Sämi sitzt im Neustädtli und liest den laszif. An der Stelle, wo

Mehr

Spannend & unverzichtbar

Spannend & unverzichtbar MEDIADATEN 20I3 Spannend & unverzichtbar ab5zig ist das Magazin des Wiener Seniorenbundes. Sechs Mal jährlich erhalten Wiens Seniorinnen und Senioren ihr" Magazin it einer vielfältigen Mischung aus nützlichen

Mehr

%YXSV/SRVEH7XYPPI -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR

%YXSV/SRVEH7XYPPI -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR 474 %YXSV/SRVEH7XYPPI -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK %YJPEKIZSQ.YRM F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

%YXSVIR1EVXMR(EYWGL6SFIVX.IHPMXWGLOE 1MGLEIP6EMXL(V,IRHVMO7MIKQYRH (V;SPJVEQ8MX^0]HME:SPP

%YXSVIR1EVXMR(EYWGL6SFIVX.IHPMXWGLOE 1MGLEIP6EMXL(V,IRHVMO7MIKQYRH (V;SPJVEQ8MX^0]HME:SPP 7->4; %YXSVIR1EVXMR(EYWGL6SFIVX.IHPMXWGLOE 1MGLEIP6EMXL(V,IRHVMO7MIKQYRH (V;SPJVEQ8MX^0]HME:SPP %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL

Mehr

Overhead-Folien zur Reinkarnation im Allgemeinen. Jan Erik Sigdell

Overhead-Folien zur Reinkarnation im Allgemeinen. Jan Erik Sigdell Overhead-Folien zur Reinkarnation im Allgemeinen Jan Erik Sigdell 2 J.E. Sigdell 6.11.2000 Die Reinkarnation ist NICHT ein ewiger Kreislauf! Dass ist eine irreführende Behauptung der Gegner (Eine vorgefasste

Mehr

%YXSVIR%RHVIE7GL[EV^4IXIV;MIW F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSVIR%RHVIE7GL[EV^4IXIV;MIW F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, //)< %YXSVIR%RHVIE7GL[EV^4IXIV;MIW %YJPEKIZSQ%YKYWX F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW

Mehr

%YXSV6EPJ/ÔLPIV 4(*(SOYQIRXIIVWXIPPIRYRHTYFPM^MIVIR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

%YXSV6EPJ/ÔLPIV 4(*(SOYQIRXIIVWXIPPIRYRHTYFPM^MIVIR F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, %'63 %YXSV6EPJ/ÔLPIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ MR

Mehr

3URGXNWLQIRUPDWLRQ &66$; &RPSDFW3&, Š 'XDO8OWUD6&6,+RVWDGDSWHU

3URGXNWLQIRUPDWLRQ &66$; &RPSDFW3&, Š 'XDO8OWUD6&6,+RVWDGDSWHU 3URGXNWLQIRUPDWLRQ &66$; &RPSDFW3&, Š 'XDO8OWUD6&6,+RVWDGDSWHU Dokument Nr. 2170 Edition 04/2001 'HU &66$; YRQ (.) LVW HLQ &RPSDFW3&, Š 8OWUD 6&6, +RVWDGDSWHU JHHLJQHW ]XP $QVFKOX YRQ/RZ9ROWDJH'LIIHUHQWLDOXQG

Mehr

$QJULIIV]LHO3LOVHQ'LH1DFKW]XP$SULO 'LH/DQFDVWHUGHVQHXVHHOlQGLVFKHQ3LORWHQ5REHUW(0LOOLNHQ $EJHVW U]WDP$SULOEHL1DOEDFK

$QJULIIV]LHO3LOVHQ'LH1DFKW]XP$SULO 'LH/DQFDVWHUGHVQHXVHHOlQGLVFKHQ3LORWHQ5REHUW(0LOOLNHQ $EJHVW U]WDP$SULOEHL1DOEDFK -1- $QJULIIV]LHO3LOVHQ'LH1DFKW]XP$SULO 'LH/DQFDVWHUGHVQHXVHHOlQGLVFKHQ3LORWHQ5REHUW(0LOOLNHQ $EJHVW U]WDP$SULOEHL1DOEDFK YRQ6WHIDQ5HXWHU 'LHGHXWVFKH/XIWDEZHKU An dieser Stelle einige Worte zur Luftabwehr:

Mehr

%YXSV6EPJ/ÔLPIV -RLEPXPMGLIW0IOXSVEX&IEXI1ENIXWGLEO F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK

%YXSV6EPJ/ÔLPIV -RLEPXPMGLIW0IOXSVEX&IEXI1ENIXWGLEO F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK 4,7 %YXSV6EPJ/ÔLPIV -RLEPXPMGLIW0IOXSVEX&IEXI1ENIXWGLEO %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

6WXGLH]XUJOREDOHQ(QWZLFNOXQJ YRQ:LVVHQVFKDIWXQG7HFKQLN )UDXQKRIHU,QVWLWXWI U6\VWHPWHFKQLNXQG,QQRYDWLRQVIRUVFKXQJ,6,

6WXGLH]XUJOREDOHQ(QWZLFNOXQJ YRQ:LVVHQVFKDIWXQG7HFKQLN )UDXQKRIHU,QVWLWXWI U6\VWHPWHFKQLNXQG,QQRYDWLRQVIRUVFKXQJ,6, 1 'HOSKL8PIUDJH 6WXGLH]XUJOREDOHQ(QWZLFNOXQJ YRQ:LVVHQVFKDIWXQG7HFKQLN =XVDPPHQIDVVXQJGHU(UJHEQLVVH )UDXQKRIHU,QVWLWXWI U6\VWHPWHFKQLNXQG,QQRYDWLRQVIRUVFKXQJ,6, LP$XIWUDJGHV%XQGHVPLQLVWHULXPVI U%LOGXQJ:LVVHQVFKDIW)RUVFKXQJXQG

Mehr

das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte

das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte www.augce.de, das unabhängige CAD-Portal für Online- Hilfe, Meinungsaustausch sowie Tipps&Tricks rund um die Autodesk-Produkte -2: %YXSVIR+IVH0ILQERR7GLSXXIR4IXIV8VSTJ/EVPWVYLI %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

Mehr

'HU/XIWDQJULIIDXI9 ONOLQJHQ:HKUGHQ DP0DL 1

'HU/XIWDQJULIIDXI9 ONOLQJHQ:HKUGHQ DP0DL 1 -1- 'HU/XIWDQJULIIDXI9 ONOLQJHQ:HKUGHQ DP0DL 1 YRQ.XUW)ULHPRQG 9RUZRUWGHV9HUIDVVHUV Der Verfasser und seine Kameraden waren als Luftwaffenhelfer Angehörige der 4. Batterie der Schweren Flakabteilung 903,

Mehr

%YXSVMRÃ9PVMOIÃ&ÔXXGLIVÃ -RLEPXPMGLIWÃ0IOXSVEXÃ(MVOÃ*VMWGLEPS[WOMÃ %YXSQEXMWMIVYRKÃ4VSKVEQQMIVYRKÃ -RXIVRIXÃÃ[[[LIVHX]SYHIEXÃ Ã [[[LIVHXFYWMRIWWHIEXÃ

%YXSVMRÃ9PVMOIÃ&ÔXXGLIVÃ -RLEPXPMGLIWÃ0IOXSVEXÃ(MVOÃ*VMWGLEPS[WOMÃ %YXSQEXMWMIVYRKÃ4VSKVEQQMIVYRKÃ -RXIVRIXÃÃ[[[LIVHX]SYHIEXÃ Ã [[[LIVHXFYWMRIWWHIEXÃ %''4 %YXSVMR9PVMI&ÔXXGLIV -RLEPXPMGLIW0IXSVEX(MV*VMWGLEPS[WM %YJPEKIZSQ.YRM F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

,PSUHVVXP +HUDXVJHJHEHQ YRP,QVWLWXW I U $QJHZDQGWHV 1LFKWZLVVHQ,I$1 H9 YHUDQWZRUWOLFKHU +HUDXVJHEHU 5HGDNWLRQ 9RUVWDQG XQG ZLVVHQVFKDIWOLFKHU %HLUDW &

,PSUHVVXP +HUDXVJHJHEHQ YRP,QVWLWXW I U $QJHZDQGWHV 1LFKWZLVVHQ,I$1 H9 YHUDQWZRUWOLFKHU +HUDXVJHEHU 5HGDNWLRQ 9RUVWDQG XQG ZLVVHQVFKDIWOLFKHU %HLUDW & 'LH =HLWVFKULIW un ewu W I U $QJHZDQGWHV 1LFKWZLVVHQ,QKDOWVYHU]HLFKQLV (GLWRULDO $QGUHDV :DJHQHU %HJULIIVNOlUXQJ LP 5HFKW 'HU 9RONVEHJULII LP 9 ONHUUHFKW %HUQG (OVQHU $QJHZDQGWHV 1LFKWZLVVHQ DP %HLVSLHO

Mehr

4,7'7Ã %YXSV6EPJ/ÔLPIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK

4,7'7Ã %YXSV6EPJ/ÔLPIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK 4,7'7 %YXSV6EPJ/ÔLPIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ

Mehr

7XUPDOLQ 1DFKELOGXQJ 6KDGRZ 6FKZDU] )UHHVWRQH JUDX 1DFKELOGXQJ.HUQEXFKH 1DFKELOGXQJ

7XUPDOLQ 1DFKELOGXQJ 6KDGRZ 6FKZDU] )UHHVWRQH JUDX 1DFKELOGXQJ.HUQEXFKH 1DFKELOGXQJ $UEHLWVSODWWHQGHNRUH $UEHLWVSODWWHQGHNRUH 6LOEHU 1DFKELOGXQJ 6SOLQWHLFKH 1DFKELOGXQJ 8OPH 1DFKELOGXQJ &RXQWU\ 2DN 1DFKELOGXQJ *UDQLW 7RUUHDQR $QWKUD]LW 1DFKELOGXQJ &RSSHU 9LQWDJH 1DFKELOGXQJ 6FKLHIHU 1DFKELOGXQJ

Mehr

Brüssel, den 24. September 2002

Brüssel, den 24. September 2002 ,3 Brüssel, den 24. September 2002 /XIWIDKUWYHUVLFKHUXQJ QDFK GHP 6HSWHPEHU 'LH(XURSlLVFKH.RPPLVVLRQ VFKOlJW 0LQGHVW YHUVLFKHUXQJVDQIRUGHUXQJHQ I U DOOH /XIWIDKUW XQWHUQHKPHQPLW)OXJEHWULHELQ(XURSDYRU 1DFK

Mehr

%YXSV6EPJ/ÔLPIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK

%YXSV6EPJ/ÔLPIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR&MPHFIEVFIMXYRK 4,( %YXSV6EPJ/ÔLPIV %YJPEKIZSQ2SZIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR /IMR 8IMP HIW ;IVOIW HEVJ MR

Mehr

%HUDWXQJV XQG7KHUDSLHPDQXDO ]XU%HJOHLWXQJGHU 6HOEVWKLOIHEURVFK UH Å1HXH:HJH DXVGHP7UDXPD

%HUDWXQJV XQG7KHUDSLHPDQXDO ]XU%HJOHLWXQJGHU 6HOEVWKLOIHEURVFK UH Å1HXH:HJH DXVGHP7UDXPD %HUDWXQJV XQG7KHUDSLHPDQXDO ]XU%HJOHLWXQJGHU 6HOEVWKLOIHEURVFK UH Å1HXH:HJH DXVGHP7UDXPD Vorbemerkung. Für die Arbeit mit diesem Manual ist ein Training erforderlich. Trainingsangebote in diesem Manual

Mehr

Mediadaten ROMMERSKIRCHEN. Portrait 3. Verlagsangaben & Ansprechpartner 4 Technische Angaben 5. Textanzeigen 6. Ad Specials 8 Verlagsbeilagen 9

Mediadaten ROMMERSKIRCHEN. Portrait 3. Verlagsangaben & Ansprechpartner 4 Technische Angaben 5. Textanzeigen 6. Ad Specials 8 Verlagsbeilagen 9 Portrait 3 Verlagsangaben & Ansprechpartner 4 Technische Angaben 5 Textanzeigen 6 Ad Specials 8 Verlagsbeilagen 9 2011 Mediadaten Pressekontakte & Medienlinks 10 Stellenmarkt PRINT 12 Stellenmarkt ONLINE

Mehr

Infobrief 1/2002. Pressekonferenz am 23. Mai 2002 in Wiesbaden: Vorstellung von "ballance 2006"

Infobrief 1/2002. Pressekonferenz am 23. Mai 2002 in Wiesbaden: Vorstellung von ballance 2006 Infobrief 1/2002 Pressekonferenz am 23. Mai 2002 in Wiesbaden: Vorstellung von "ballance 2006" Moderation: Michael Bußer HMdIS, Referat Presse- und Öffentlichkeitsarbeit v.l.n.r.: Direktor Böhme (HLZ),

Mehr

%YXSVIR4IXIV;MIW;SPJ;MPG^IO -RLEPXPMGLIW0IOXSVEX3VXVYR+VMPP F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX

%YXSVIR4IXIV;MIW;SPJ;MPG^IO -RLEPXPMGLIW0IOXSVEX3VXVYR+VMPP F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, +VYRHPEKIR -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX : %YXSVIR4IXIV;MIW;SPJ;MPG^IO -RLEPXPMGLIW0IOXSVEX3VXVYR+VMPP %YJPEKIZSQ1ÂV^ F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEX [[[LIVHXFYWMRIWWHIEX [[[LIVHXZLWHIEX %PPI 6IGLXI ZSVFILEPXIR

Mehr

)'(0%1 %YXSVIR/SRVEH7XYPPI8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK %YJPEKIZSQ7ITXIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF,

)'(0%1 %YXSVIR/SRVEH7XYPPI8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK %YJPEKIZSQ7ITXIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, )'(0%1 %YXSVIR/SRVEH7XYPPI8MRE;IKIRIV -RLEPXPMGLIW0IOXSVEX'LEVPSXXIZSR&VEYRWGL[IMK %YJPEKIZSQ7ITXIQFIV F],)6(8:IVPEKJÚV&MPHYRKWQIHMIR+QF, &SHIRLIMQ -RXIVRIX[[[LIVHX]SYHIEXGL [[[LIVHXFYWMRIWWHIEXGL [[[LIVHXZLWHIEX

Mehr